IFC Approves $100 Million for Pantaleón Sugar

Pantaleón Sugar Holdings will receive $100 million to expand sugar and ethanol production in Guatemala and Nicaragua.

Monday, March 23, 2009

According to the report in El Periódico of Guatemala, the loan was approved by the board of the International Finance Corporation (IFC), and "the approval was last February 26 and it was passed by the board of the corporation and is pending a signature. The total amount is $130 million, including a combination of subordinated loans and capital investment of $100 million."

More on this topic

Industry Prepares for Increased Demand for Ethanol

September 2012

The new Panamanian Biofuels Act provides that from April 2013 a 2% of anhydrous bioethanol be incorporated into motor fuels.

Under the law, that percentage will increase to 5% by 2014. The progression in the increased presence of ethanol in the fuel used by motorists will continue to reach 7% in 2015 and 10% in 2016. This percentage may be increased by the National Energy Secretariat based on the technological advances.

Sugar Mill Invests $93 Million in Guatemala

May 2010

Pantaleón Sugar Mill will invest $50 million to increase its sugar production and $43 million to enlarge its ethanol manufacturing facility.

Mauricio Cabarrús, general manager at Pantaleón, remarked that they plan to increase their sugar cane production from 25 million to 28 million tons.

Nicaragua Sugar Estates to Export $56 Million in Ethanol

March 2009

The company predicts that it will export 80 million liters of ethanol to Europe in 2009 which will generate $56 million in income.

Nicaragua Sugar Estates Limited, which is owned by the Pellas Group, owns Ingenio San José, through which it produced and exported 20 million liters of ethanol in 2007, 50 million in 2008, and it plans to reach 80 million this year.

Pantaleón Sugar to Expand Production in Central America

February 2009

The group asked for a $100 million credit from the IFC to expand its production of sugar, ethanol and electricity in Guatemala and Nicaragua.

El Periodico published on its website: "The funds will be allocated to expand sugar and electricity production from sugar cane pulp in Guatemala, expand its production of ethanol in Escuintla and build a new ethanol plant in Nicaragua.

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