VICENTIN S.A.I.C.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Vicentin SAIC (“Vicentin”, the “Company”), a family owned company, was founded in 1929 and has been active in the crushing business since 1979. It has now become the largest soybean crushing company of Argentina owning three crushing facilities, a port terminal and two biofuel plants. In addition, Vicentin owns subsidiary Renova, an FMO client, together with key partner and off taker Glencore Agri.
What is our funding objective?
The proposed financing will be used to pre-finance exports to eligible buyers of oilseeds and their by-products processed by Vicentin’s or the Renova’s crushing plant. Argentina is one of the most efficient producers of grains and oilseeds, it is a key country because of its important contribution to global food security.
Why do we fund this investment?
Vicentin is an important long-term relationship for FMO because of the good fit with the AFW strategy: The grains and oilseeds (G&O) sector is a focus sector of the Agribusiness Food & Water department and affordable soybean products link directly to SDG 2: zero hunger.
What is the Environmental and Social categorization rationale?
This is a category B+ financing since the E&S risks and impacts associated with the activities of the Company are limited, site-specific and addressable through generally accepted mitigation measures. The following performance standards are triggered: PS 1, Assessment and Management of Environmental and Social Risks and Impacts PS 2, Labor and Working Conditions PS 3, Resource Efficiency and Pollution Prevention PS 4, Community Health, Safety and Security PS 6, Biodiversity Conservation and Sustainable Management of Living Natural Resources. PS 5, Land Acquisition and Involuntary Resettlement is not triggered since this financing is not related to any physical expansion. PS 7, Indigenous People and PS 8, Cultural Heritage, are not triggered because there is no direct link between Vicentin and producer areas where indigenous people and cultural heritage are involved.
More investments
| Date | Total FMO financing |
|---|---|
| 5/17/2018 | USD 25.00 MLN |
| 10/19/2015 | USD 15.00 MLN |
| 5/9/2019 | USD 25.00 MLN |
- Website customer/investment
- http://www.vicentin.com.ar/
- Region
- Latin America & The Caribbean
- Country
- Argentina
- Sector
- Agribusiness, Food & Water
- Publication date
- 2/21/2019
- Effective date
- 5/10/2019
- Total FMO financing
- USD 45.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+