In Brazil, a loan to support the production of high-quality silicon for the photovoltaic industry.
Brazil
The Brazilian group RIMA is one of the leaders in the production of silicon, which is mainly used to manufacture solar panels. With this loan, PROPARCO is helping the company increase its production capacity and install filters to reduce air emissions.
Client presentation
RIMA, a Brazilian family-run group, was set up in 1974 and employs some 3,650 people. It has developed in the metal industry via an integrated model on the value chain. The company mainly manufactures silicon, which is used in industries such as the production of photovoltaic panels, for which there is strong growth in global demand.
RIMA is also a major player in Brazil’s production of magnesium, alloys and automotive parts for the local market.
RIMA stands out for its integrated production process, which has lower emissions than most market players, thanks to its own production of charcoal made from its FSC certified eucalyptus plantations and its consumption of hydropower-generated electricity.
Project description
The project involves financing the increase in RIMA’s silicon production capacity, which is mainly to be used for the manufacturing of photovoltaic panels, thanks to a new kiln and the installation of equipment to improve its environmental performance (installation of dust filters in order to reduce air emissions).
Project impact
PROPARCO’s operation will support a key player for the socioeconomic development of the disadvantaged region of Minas Gerais. The project will contribute an average of EUR 34.8m a year to public revenues and an average of EUR 33.7m a year to Brazil’s GDP (via salaries paid and profits generated).
It will also support a player with an integrated production model with lower emissions than its peers and will contribute to improving the environmental and social standards of a group which is sensitive to these issues (use of FSC charcoal as a fuel for the kilns, which reduces emissions in the production process, and no use of coking coal, for example).
Finally, the project will have societal effects: RIMA is financing a number of projects that benefit communities via its foundation, such as the construction and maintenance of medical centers, support to local schools via financing and the provision of equipment and rainwater harvesting.
08/20/2018
Date of signature of the project
Sectors
Brazil
Location
Financing tool
38 445 109
Euros
Amount of funding
Loan of USD 45m
RIMA INDUSTRIAL S.A.
Head office country
PER1058
CES
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on the same region
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on the same topic
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on the same financial tool
