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Projet Manuchar
PROPARCO’s loan will allow Manuchar, a Belgian company operating in the raw materials brokerage and logistics sector, to increase the capacity and storage quality of two of its agro-industrial subsidiaries in Brazil and Vietnam.
Client presentation

Manuchar is the world’s largest trader of sodium sulphate (input for detergents), and the 4th largest distributor of chemical products in Latin America and Africa. It is a major player in chemical product trading between Asia and the rest of the emerging world. Manuchar’s core activity is buying, selling, transporting and, in certain cases, distributing commodities: the main commodities traded are chemical products, steel and its by-products, as well as base metals.  

Project description

This financing will allow the group to:
(i) increase the capacity and storage quality of two of its agro-industrial subsidiaries in Brazil and Vietnam;
(ii) back its group working capital to long-term resources;
(iii) have subordinated medium-term resources, which are not readily available on local and regional banking markets.
The project provides for the construction of warehouses in the port areas of Phu My in Vietnam and Imbituba, a secondary port in Brazil, which aims to become a regional export hub

Project impact

The project will have a positive impact on port infrastructure in Vietnam and Brazil, in terms of capacity, quality and storage capacity, thanks to better equipment. It will also create or maintain 180 local jobs (120 in Brazil and 60 in Vietnam). Finally, the project will contribute to:  
(i) Public revenues via the payment of EUR 525 k of taxes and levies over the next five years;  
(ii) The GDP of the two countries, with a total annual amount of EUR 1.9m.

24/07/2017
Date of signature of the project
Multi-country Global Vietnam Brazil
Location
Financing tool
15 000 000 Euros
Amount of funding
EUR 15m loan
Financing details
MANUCHAR NV
Client
CES