News Releases

May 31, 2017

IIC to boost competitiveness of soybean crushing complex in Argentina

The Inter-American Investment Corporation (IIC), the International Finance Corporation (IFC) and Coöperatieve Rabobank U.A. (‘Rabobank’) signed a US$410 million financing package with Renova S.A. to finance the expansion of the world’s largest soybean crushing plant, located in Argentina.

The US$434 million project will expand the plant’s soybean crushing capacity from 20,000 MT to 30,000 MT per day and will increase the grain storage and loading capacity. It also includes the construction of a barges terminal. As a result, Renova will contribute to food availability, and will foster employment in the industry and foreign trade through soymeal and soy oil exports. Additionally, Renova is now preparing and implementing a supply chain sustainability policy due to IIC’s involvement.

Renova is considered one of the world’s most competitive and highly efficient crushing plants due to its low-cost structure, large scale and logistic advantages, as well as its ability to switch between products/by-products, maximizing contribution margins.

The financing package is aligned with Renova’s long-term investment needs, offering tenors, grace periods and amounts currently not available in the local commercial banking market. IIC financing includes an A-loan of US$75 million and a B-loan of US$130 million from Rabobank, FMO, ING, Santander, Natixis, ICBC, ABN AMRO, and Itau.

About the Inter-American Investment Corporation (IIC)

The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.

About Renova S.A.

Renova S.A. is a joint venture set up in 2006 by Vicentin S.A.I.C. and Oleaginosa Moreno Hnos. S.A., fully owned by Glencore. Renova owns an integrated crushing and port facility in Timbues (Santa Fe Province). With 20,000 tons/day capacity the plant is the newest, largest and one of the most efficient soybean crushing facilities in the world. In addition, Renova owns a biodiesel facility in San Lorenzo with capacity of 480,000 tons/year of biodiesel and a glycerin refinery with an annual capacity of 90,000 tons.

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

Hello, Welcome to the IDB!

Please join our mailing list by simply entering your email below.