Through this Early Disclosure, IFC provides access, early in the environmental and social assessment process, to this draft Environmental and Social Impact Assessment (ESIA). This ESIA has been prepared by the client and should not be taken as an indication that IFC has completed its review of the potential investment. The purpose of this Early Disclosure is to enhance the transparency of IFC’s activities with reference to those projects or investments with potential significant adverse environmental and social risks and/or impacts. Any project documentation or data included or attached herein has been prepared and authorized for public release by the client.
The disclosure of this ESIA should not be construed as presuming the outcome of IFC’s review of the potential investment or the decision of its Board of Directors. An updated version of the ESIA reviewed by IFC may be disclosed at a later stage. In addition, prior to any consideration of the investment by IFC’s Board of Directors, the Summary of Investment Information (SII) and the Environmental and Social Review Summary (ESRS) would be disclosed at least 60 days in advance.
Rougier Afrique International
Central Africa Region
Project Business Sector
Provisional Environment and Social Category
Description of the Project:
The proposed project is IFC financing of up to EUR22.7 million in Rougier Afrique International (the “Company” or “RAI”), a forestry and wood products company, which would support the Company’s capital expenditures plan for the period 2012 – 2016. RAI is a subsidiary of France’s Rougier SA (“Rougier”), a leading manager of African forestry assets.
RAI manages approximately 2.1million hectares of natural forest concessions in Gabon, Cameroon and Republic of Congo which produces approximately 600,000 m3 of logs annually. RAI uses roughly 80% of this log volume in its eight processing factories which produce 186,000 m3 of lumber and plywood. The balance of logs is sold to local and international markets.
During the project RAI will update and expand current processing plants and logistics, establish a cogeneration power plant in Cameroon, and improve the management of its forest concessions across central Africa (the “Project”). The proposed project will assist in the creation of value in natural forests which is an important driver for forest conservation. It will also support value-added processing which will create additional employment and incomes opportunities for rural communities now dependent on slash-and-burn agriculture. The project will also address climate change issues by installing wood waste-based heat and power cogeneration in at least one mill reducing demand for diesel fuel. IFC's support will allow RAI to strengthen and extend its leadership in the use of sustainable forestry practices and independent certification to the Forest Stewardship Council’s (FSC) Principles and Criteria.
Rougier was established by the French Rougier family in 1923. Rougier is listed on the Paris Stock Exchange. Rougier has three dedicated business lines: (i) RAI for natural tropical forests assets; (ii) Rougier Panneaux and Sylvaco for distribution and imports in France; and, (iii) Lignafrica, for tropical plantations forests. In December 2011, Gabon’s Caisse des Dépôts et Consignations acquired a 35% interest in RAI for EUR 24 million. As of August 2012, the Rougier family owns 62.4% of Rougier shares and retains 74.2% of the voting rights. Other shareholders include Treasury Stocks (0.8%) and 36.8% of the shares are publicly-traded.
Client’s Contact Information:
Rougier Afrique International
75, Avenue des Champs Elysées 75008
Attention Mr. Francis Rougier, Chief Executive Officer