Corporacion Cressida, S.A. de C.V. (Multicompany with 8418) Summary Of Project Information (SPI)       Project Name    Honduras-Cressida              Region    Latin America & Caribbean        Sector       Project No007114   Projected Board DateApril 30, 1997   Company NameCressida International Investments Corporation (CIIC)   Technical Partner and/or Major Shareholders    	CIIC is 60% owned by Bristol Channel Investments Corporation, both Panamanian corporations, and 40% owned by Miguel Facusse.  Bristol Channel Investment Corporation is wholly-owned by Miguel Facusse.    Project Cost Including proposed IFC investment    	The total cost of the Project is US$80.3 million.  IFC will invest up to US$45 million as follows: US$10 million in an A loan, US$5 million in a convertible loan, US$5 million in a direct equity investment, US$5 million in a standby loan, and the remaining US$20 million in a B loan for the account of participants.    Location of project and Description of site    	The project will be located in three main industrial sites: (a)Comayagua, Honduras - new manufacturing complex to include a soap and detergent facility, a sulfonation plant, a glycerin recovery facility, and an edible-oil refinery.  This complex will incorporate new buildings and machinery, with existing equipment and parts of two old Cressida industrial sites that will be closed down and relocated into the new industrial area.  In addition, the Comayagua site will also include the expansion and modernization of existing tomato-based and food and fruit beverages production facilities; (b) San Pedro Sula, Honduras - expansion and modernization of an existing snacks plant; and (c) San Salvador, El Salvador - expanding and modernizing existing soap, detergents and cleaning products facility.    Description of Company and Purpose of Project    	CIIC is the holding company of a highly successful Honduras-based family-run group with manufacturing and marketing of two main lines of goods throughout the Central American region: (a) laundry soap and detergent, bleach, cleaners and personal hygiene; and (b) food products (mainly tomato-based), fruit juices and snacks.  With the implementation of the Project, the Company will increase production capacities and lower production costs, while expanding its line of products into the edible oil industry.  Operations are vertically integrated from agricultural production (including palm-oil) to manufacturing and distribution in Central America and Panama.  With sales of US$168 million, total assets of US$200 million, and cash flow of US$12 million, Cressida is Honduras largest economic group.  During fiscal year 1996, the Company obtained a gross margin of 38%, with a net margin of 5.1%.  The Cressida group was founded in 1961 and currently has over 6,000 employees, mainly from substantial upstream agricultural holdings.     Environmental Category and Issues    	   This is a category B project according to IFC''s environmental review procedure.  Environmental, occupational health and safety issues associated with this project include land use, air emissions, liquid effluents, waste disposal, fire and explosion prevention and employee exposure to noise and dust.  The sponsor will develop and implement a Corrective Action Plan (CAP) to reach environmental compliance in all the facilities.  The Environment Division will monitor the appropriate development of the CAP.      The  is  March 14, 1997 from the Public Information Center.         Date SPI sent to PIC     March 10, 1997      For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 676-0365  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).