Conaprole 2019

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   Cooperativa Nacional de Productores de Leche (the “Cooperative” or “Conaprole”), an IFC client since 2002, is a leading Uruguayan dairy producer and exporter, as well as one of the lowest cost producers in the world. The Cooperative operates 8 processing plants and processes 1.4 billion liters of milk per annum sourced from more than 1,900 farmers. The industrial plants are: (i) Florida plant # 7, (ii) Villa Rodriguez (VR) plant #8, San Ramon (SR) # 9, San Carlos (SC) # 10, Ricon del Pino (RDP) #11, Rivera plant #14, Mercedes #16, and Montevideo plant, plant # 21.  Conaprole has requested IFC to extend an A Loan of up to US$60 MM to finance: i) the construction of a spray-dryer tower to produce infant formula for export at Villa Rodriguez plant; ii) the replacement of current small and inefficient boiler system with a new more efficient one (allowing for GHG reduction); and iii) the upgrade of waste water treatment facilities at all their industrial sites (the “Project”).The new Project to produce infant formula follows Conaprole’s strategic view of adding value to its exports as the formula will be sold to multinational companies who will then sell it in Latin America under their own brands. This is one more move in the direction of the Cooperative’s mission, which is not only to absorb its member-farmers’ milk production but also to maximize returns for them.