Societe Industrielle Agro-Alimentaire S.A

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The proposed investment is an A loan of up to €4.5 million to support a €5.6 million modernization project of SIAGRO S.A. (the “Company” or “Kirene”), an existing IFC client (# 33844) that is a still beverage (mineral water, fruit juice, UHT milk) company in Senegal. Kirene’s investment plans include (i) equipment for waste water treatment and water quality; (ii) Enterprise Resource Planning system; (iii) expansion of warehousing; (iv) automation program for product packaging; and; (v) facilities/infrastructure upgrade (“the Project”). The former project #33844 included production and warehouse expansion capacity. This is a repeat investment and it will not result in any material change in environmental and social (E&S) impacts associated with the existing investment. IFC conducted the E&S due diligence of the previous investment in line with all applicable Performance Standards (PS) in 2013. For this new project, E&S information was updated through a Site Supervision Visit, and the E&S performance of the client was found satisfactory. The project is located in a rural area in modified habitat. The land used (7 ha) for the plant facility and associated buildings (e.g. warehouse, parking, wastewater treatment plant) was leased from the Diass Rural Community.