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RG-L1118 : Fitesa Regional: Brazil and Mexico

Project Status: Approved

The project consists of the installation and operation of: a) a new 20,000 thousand ton per year non-woven[1] production plant in Cosmópolis (São Paulo, Brazil); and b) a new 20,000 tons per year production line in a plant in San José de Iturbide (Guanajuato, Mexico). The plant in Cosmópolis will be the first one in South America to use renewable polypropylene (produced with sugar cane instead of hydrocarbons), thanks to its bi-component technology. The objective of the loan is to improve and increase the production capacity of Fitesa S.A. ("Fitesa") through its operating companies in Brazil and Mexico. As part of the project, the IIC will finance studies and the installation of solar panels (subject to study results) at the Cosmópolis and/or San José de Iturbide plant. The panels will provide approximately 13% and 5% respectively of the electrical energy consumed by each plant every year. IIC's long-term financing will match the lifecycle of the project's assets and will thus further strengthen Fitesa's financial structure. Fitesa is one of Brazil's most diversified and internationalized companies, with production plants in South America, North America, Europe and Asia. Fitesa specializes in the production of nonwovens for hygiene products. Fitesa manufactures 30% of the hygienic nonwovens consumed in Brazil and 50% of the nonwovens consumed in Mexico.

Project Detail

Project Number
RG-L1118
Approval date
2017/06/06
Project Country
Regional
Project Sector
INDUSTRY
Project Subsector
INDUSTRY-MANUFACTURING INDUSTRIES
Project Type
Loan Operation
Project Status
Approved
Operation Number
3998/CH-RG

Financial Information

Project Number
RG-L1118
Project Status
Approved

IDB Financing

Financing type
Private Sector Loan
Fund
CHC
Reporting currency
USD - United States Dollar
Reporting date
Jun/30/18

Roles & Responsibilities

Operation Number
4063/CH-RG

Financial Information

Project Number
RG-L1118
Project Status
Approved

IDB Financing

Financing type
Private Sector Loan
Fund
CHC
Reporting currency
USD - United States Dollar
Reporting date
Jun/30/18

Roles & Responsibilities

Project Information

Total Cost
USD 20,250,000
Country counterpart financing
USD 0
Fund
CHC
Amount
20,250,000