IFC Invests in NSG Group to Support Manufacturing Capacity in Argentina

The International Finance Corporation (IFC), a member of the World Bank Group, announced an investment of 40 million USD in NSG UK Enterprises Limited (NSG UK). NSG UK is a long-standing IFC client and a member of the NSG Group, one of the largest manufacturers  of glass and glazing products on earth. The corporate loan will finance the completion and start of operations of the group’s greenfield glass production plant in Argentina, with an estimated production of 900 tons per day, and help address the macro challenges facing the South American country.

Located in an industrial site in Cardales, about 70 kilometres north-west of Buenos Aires, the plant will make use of the latest NSG worldwide technology to support the achievement of industry and sustainability targets. This includes aspects such as application of Industry 4.0 standards and technologies that support the decarbonization ambition of NSG Group.

In addition, IFC’s loan to NSG UK, through the company’s subsidiary in Argentina, Vidriería Argentina S.A. (VASA), will positively impact the local economy by supporting FDI, substituting imports and generating exports, adding value to domestic raw materials, and enhancing value chains. Furthermore, IFC will provide an advisory service to VASA to help identify energy efficiency opportunities.