PIIF Wilex Cocoa

completed

Summary Of Project Information (SPI)Project NameWestern Samoa - Wilex CocoaRegionAsiaSectorProject No007959Projected Board DateJanuary 30, 1997Company NameWilex Cocoa Pty.Technical Partner and/or Major Shareholders The primary sponsor is Mr. Eddie Wilson, Managing Director of Wilex Cocoa and Coconut Products Ltd. The company was incorporated in 1986 and started business primarily as a trading house exporting taro and other traditional Samoan foodstuffs and household items to Polynesian communities in Auckland, Sydney and Los Angeles.Project Cost Including proposed IFC investment The total project cost is approximately US$ 650,000. IFC has proposed making a quasi-equity investment of approximately US$327,000 through PIIF, the Pacific Islands Investment Facility. This investment is proposed to be in 100% comulative redeemable preference shares. Location of project and Description of site Wilex’s project will be located in Moata’a, Apia (1 km from Apia port). Description of Company and Purpose of Project The sponsor, Wilex Cocoa and Coconut Products Ltd (Wilex) is an Apia, Western Samoa based producer, distributor and exporter of pounded kava and a crude form of cocoa liquor. The project involves the expansion of Wilex’s existing factory to accommodate the expanded production activities, the purchase and installation of utilities and further storage capacity s involved.Environmental Category and Issues This is a category B project according to IFC’s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized standards, guidelines or design criteria.     The is from the Public Information Center.Date SPI sent to PIC      December 26, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365