Juan Minetti EM

completed

Summary Of Project Information (SIP)Project NameArgentina: Minetti EMRegionLatin America and CaribbeanSectorProject No007133Projected Board DateSeptember 20, 1995Company NameJuan Minetii S.A.Technical Partner and/or Major Shareholders Minetti’s ownership is: (I) 55% is held by a holding company controlled by members of the Minetti family, and (ii) 45% is traded in the Buenos Aires Stock Exchange.Project Cost Including proposed IFC investment The total project cost is approximately US$90.0 million Proposed IFC investment:A loan of $10 million B loan of $50 million Convertible loan of up to $10 millionLocation of project and Description of site Located at an industrial site about 40 km from Cordoba, ArgentinaDescription of Company and Purpose of Project The project entails: modernization of existing facilities at the same plant; and the upgrading of the plant’s environmental treatment facilities..Minetti is the second largest cement producer in Argentina and the largest distributor outside the Buenos Aires metropolitan area. The Company, which operates plants in three provinces, has an 18% national market share.Environmental Category and Issues This is a category B project according to IFC’s Environmental review procedure. The principal issues include: air emissions from kiln, cooler and cement mill operations, and from the handling equipment for raw materials and finished product; liquid effluents from process wastewater, stormwater and domestic sewage; solid wastes; fire prevention; and employee exposure to noise and dust. Minetti has been implementing an Environmental Improvement Plant which, when fully in place, will significantly upgrade the environmental performance at Minetti’s three plants, including the plant in Cordoba. The proposed new kiln will be designed to meet the World Bank particulate emissions guideline of 50 mg/Normal cubic meters. The is from the Public Information Center.Date SPI sent to PIC August 31, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).