The Inter-American Investment Corporation (IIC), the International Finance Corporation (IFC) and Coöperatieve Rabobank U.A. (‘Rabobank’) have 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.
Becker Glynn served as Legal Counsel to Inter-American Investment Corporation and International Finance Corporation.