Caracol Knits, S.A. de C.V.

repaid

CK is a company whose core activities are the manufacturing, processing, in-bond assembly, marketing, importing, and exporting of fabric, garments, and accessories. A full 81% of its manufacturing services are provided to Fruit of the Loom.The objective of this IIC operation is to provide CK with financing for the second phase of its project to design, supply, and build the industrial and agricultural components of a biomass (king grass and Bio-G) generation plant in Honduras with 20 megawatts of nominal capacity. Approximately 15 MW of the power generated will be used in the textile operations of the CK group of companies and the remainder sold to the Honduran National Electric Energy Company (ENEE).In the first phase, the company used its own resources to finance the installation of a saturated steam boiler capable of generating 35 tons of steam per hour and a backpressure turbine with 2 MW of installed capacity. The second phase consists of installing a boiler capable of generating 100 tons of steam per hour and a condensing turbine with 18 MW of nominal electric generating capacity. This phase also includes an investment in the agricultural components (planting of biomass crops) needed to fuel the boiler.The total cost of the project is US$65.2 million (US$22 million for the first phase and US$43.2 million for the second).