Environmental Protection Project (Brazil) (NDB-environmentalprotecti)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Specific Location
Duque de Caxias - Rio de Janeiro; Betim - Minas Gerais
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 28, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Petroleo Brasileiro S.A. (“Petrobras”)
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 340.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ NDB website

Updated in EWS Aug 31, 2018


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Project Description

According to the bank, the project consists of upgrades in infrastructure and equipment of two existing refineries that will improve the Company’s environmental performance and address new regulations required by local environmental legislation. Also according to the bank, as a result of the Project, harmful emissions will be significantly reduced and water and soil contamination will be avoided. NDB will support the Project through a senior, unsecured corporate loan of up to USD 200 million.

The Project’s components are divided into four sub-projects in two different refineries – REGAP (located in the municipality of Betim, in the state of Minas Gerias) and REDUC (located in the municipality of Duque de Caxias, in the state of Rio de Janeiro).

Investment Description
  • New Development Bank (NDB)