Timbues Soybean Crushing Plant

completed

In 2006, IFC provided Noble Argentina, a subsidiary of Noble Group Limited (“The Company”, “Noble” or “Noble Group”) with a $18 million A and $18 million B loan for the creation of a $51.2 million greenfield grain port terminal and storage complex in Timbues, Santa Fe Province, Argentina. The Timbues Port has a storage capacity of 250,000mt and can accommodate a throughput of about 5 million tons of grain per year, consisting mainly of exports of wheat, corn and soybeans. The company is now expanding the grain operations in the same location with the construction of:- a 8,500 metric tonne (mt) per day soybean crushing plant, - a soybean dehulling facility, - a steam and 17MW electrical energy cogeneration unit, - meal storage capacity of 110,000mt, - oil tanks with 45,000mt capacity, and - storage facility for 300,000mt soybean and - handling facilities. The project cost is estimated at $230 million plus $100 million working capital. Construction is expected to start in mid-2009. IFC has been requested to consider providing a $40 million A loan to partially finance the crushing plant expansion.