π Tender Overview
Project Number: 48905
Company Name: Companhia Melhoramentos Norte do Parana
Date ESRS Disclosed: Mar 19, 2024
Country: Brazil
Region: South America
Environmental Category: B
Status: Pending Approval
Sector: Sugarcane and Beets
Industry: Agribusiness and Forestry
Department: Regional Industry MAS LAC & EUR
Project Description
The proposed IFC investment is a loan of up to US$50 million to Companhia Melhoramentos Norte do Parana (the Company or CMNP ), a Brazilian sugar and ethanol company. In 2022, CMNP acquired the Vale do Parana mill ( VPM or the Projectββ), which has raw sugar, ethanol and cogeneration production capacity. The loan will support CMNPβs investment program for the next two years for sugarcane renewal and treatment, that will result in more efficient land use and optimize VPMΒ΄s crushing capacity. VPMβs CAPEX program will use climate smart and more efficient agricultural techniques including (i) optimized sugarcane mix to increase plague resistance, (ii) use of organic fertilizers and biological pest control combined with traditional agri inputs, (iii) precision fertirrigation, and (vi) satellite images analysis to support these activities. The sugar cane harvested area will increase from 17,000 hectares (ha) in FY22/23 to an expected 28,300 ha in FY24/25. Eighty percent of harvested area are leased properties, and the remainder are from third-party suppliers. In addition to the sugar cane plantations, VPM has a mill and a bio-gas generation plant in owned land, and a transmission line that crosses both owned and leased land. VPM is located in SuzanΓ‘polis, Western region of the State of Sao Paulo, in consolidated agricultural areas as the mill was commissioned in 2008.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/