XM-DAC-903-SPI-10117
International Finance Corporation
C.A. La Electricidad de Caracas
Summary Of Project Information (SPI) Project Name Venezuela - EDC II RegionLatin America and Caribbean Sector Project No010117 Projected Board DateJanuary 10, 2000 Company NameC.A. La Electricidad de Caracas (EDC) Technical Partner and/or Major Shareholders C.A. La Electricidad de Caracas (EDC) is the major private utility in Venezuela and is owned by over 68,000 shareholders, none of which own more than 14% of the company. Project Cost Including proposed IFC investment The proposed investment is an emergency loan to EDC of US$30 million for IFCs own account. Location of project and Description of site Venezuela has been devastated by extensive flooding and mudslides caused by three days of heavy rains from December 15 to 17, 1999. Estimates of the number of dead, in what authorities describe as the worst natural disaster in modern times in Venezuela, vary at this time, but exceed several thousand. In the Caracas area, the poor residents of the shantytowns that climb the mountains surrounding Caracas were particularly affected, leaving many homeless. The hardest-hit area was a 60-mile stretch of coast in Vargas, an area just north of Caracas. Vargas is within the concession area of Electricidad de Caracas. EDC estimates its damages at about US$100 million. In addition, it is incurring extraordinary expenses for emergency work and participation in the rescue operations. Description of Company and Purpose of Project The proposed project is to reinstate electricity service to poor neighborhoods that were devastated by the recent flooding. This includes restoration of public lighting and providing electricity service to small stores, gas stations, remote water and sewage pumping stations, schools, medical clinics and public offices. The bulk of the investment will be focused in the Litoral coastal area where 90% of the 90,000 residences were largely destroyed. Overall, EDC estimates that about eight percent of its electricity distribution system was damaged by the flooding and that the cost of repair will exceed US$100 million. EDC has agreed to use the IFC investment exclusively for poor and middle income areas, which are the least profitable sectors of the companys business. The IFC loan will encourage rapid repair of the system in these areas, which otherwise would receive lower priority or be done after and to the extent that the company has received insurance proceeds. Environmental Category and Issues During appraisal of a June 1999 IFC loan to EDC (project number: 009624), it was established that EDC has a strong internal environmental capability and corporate policy. The environmental review summary for this category B project, which was issued on May 24 and is available from the Infoshop, also describes the company''s approach to the development of distribution infrastructure. EDC has also reconfirmed its intention to comply with all applicable World Bank environmental and social policies and guidelines. Environmental clearance of this loan has therefore been given on the basis that it complements the June 1999 loan and in consideration of the emergency situation in the project area. The emergency loan is believed to be beneficial as it will be used for reconstruction of existing facilities to equivalent or better standards, providing enhanced public safety and street lighting. IFC social specialists will visit the disaster area as soon as possible and advise EDC on project implementation. The ERS for the June 1999 loan to EDC (project number: 009624) is available from the Infoshop. Host country location of environmental documents The ERS for the June 1999 loan to EDC (project number: 009624) is available at: C.A. La Electricidad de Caracas Avenida Vollmer San Bernardino Apartado 2299 Caracas 1010-A Venezuela Date SPI sent to InfoShop December 27, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 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).
C.A. La Electricidad de Caracas
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
EA - Distribution Business
Total: $30.00 million
30000000.00
30000000.00
C.A. La Electricidad de Caracas
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10117/c-a-la-electricidad-de-caracas
XM-DAC-903-SPI-7104
International Finance Corporation
Compania Anonima Nacional Telefonos de Venezuela (CANTV)
Summary Of Project Information (SPI) Project Name Venezuela - Compañia Anónima Nacional Teléfonos de Venezuela (CANTV) Region Latin America Sector Project No007104 Projected Board DateMarch 28, 1996 Company NameCompañía Anónima Nacional Teléfonos de Venezuela (CANTV) Technical Partner and/or Major Shareholders - 40% Venworld Telecom CA (A holding company controlled by GTE Corporation(USA), but including Telefónica de España, AT&T) Electricidad de Caracas, and Banco Mercantil Group, Venezuela; - 11% Employees of CANTV - 49% F.I.V. (Venezuelan Government holding company) Project Cost Including proposed IFC investment Total project cost is US$1.33 billion. IFC would provide a loan of US$250 million, of which US$75 million would be for IFCs own account. The balance would be provided through debt for debt swaps from existing lenders (US$100 million) and through a syndication with participant banks (US$75 million). Location of project and Description of site Throughout Venezuela Description of Company and Purpose of Project CANTV is the Venezuelan national and international telecommunications operator which was partly privatized in 1991, with World Bank assistance. The privatization involved the sale of 40% of the Companys shares, with control, via a competitive bidding process to a consortium led by GTE Corporation, for a consideration of US$1.885 billion. CANTV currently operates a telecommunication network with 2.5 million telephone lines in service, plus a cellular telephone subsidiary with 170,000 subscribers. In accordance with its Concession Agreement, CANTV is required to modernize and expand its telephone network annually during the period 1992-2000. During this period CANTV must, inter alia, install a minimum of 3 million new digital telephone lines (including 640,000 replacement lines) and 53,400 additional new public telephones. Given the current difficulties Venezuelan companies are experiencing in accessing international capital and bank syndicated loan markets, IFC has been requested to arrange a syndicated loan of about US$250 million, of which US$75 million would be from IFCs own resources. The loan would (i) assist with the funding of the 1996 and 1997 portions of the Investment Program which will cost US$774 million, and (ii) help with a US$556 million restructuring of CANTVs debt by swapping US$100 million of existing 3 and 4 year loans into an 8 year IFC B loan. Environmental Category and Issues This is a category B project according to IFCs environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key environmental and occupational health and safety issues that are of potential concern in this project include: right-of-way alignment; development of previously undisturbed land (e.g. forest); solid and liquid wastes; PCBs; fire prevention and emergency response; and employee exposure to noise, other physical agents, and hazardous materials. The Environment Division has completed a review of the environmental information submitted by CANTV, dated December 18, 1995. This information adequately addresses issues pertaining to right-of way, waste disposal, and safety issues. Issues relating to PCBs and installations in national parks which CANTV is currently addressing, remain outstanding. Once these issues are adequately addressed it is anticipated that the project will comply with applicable World Bank policies and guidelines and national and local requirements. The is March 4, 1996 from the Public Information Center. Date SPI sent to PIC March 4, 1996 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).
Compañía Anónima Nacional Teléfonos de Venezuela
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
AB - Fixed Telephony
Total: $75.00 million
75000000.00
75000000.00
Compañía Anónima Nacional Teléfonos de Venezuela
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7104/compania-anonima-nacional-telefonos-de-venezuela-cantv
XM-DAC-903-SPI-7343
International Finance Corporation
Loma de Niquel Nickel Project
Summary Of Project Information (SPI) Project Name Venezuela - Loma de Niquel RegionLatin America and Caribbean Sector Project No007343 Projected Board DateMarch 15, 1997 Company NameMinera Loma de Niquel CA Technical Partner and/or Major Shareholders Amsa Ltd, (Amsa), a wholly owned subsidiary of Minorco SA (85%); Corporacion Caracas (7.5%); and Jordex Resources Inc. (7.5%). It is proposed that IFC acquire a 3.5% equity interest which would reduce Amsas shareholding to 81.5%. Amsa is also the project technical partner. Project Cost Including proposed IFC investment Project cost is US$430.0 million including all associated infrastructure and capitalized interest. IFCs proposed investment is - (i) A loan - US$65 million, (ii) B loan - US$50 million and (iii) Equity - US$9.455 million. Location of project and Description of site The Project is located in Venezuelas Miranda and Aragua States, some 80 kms south-west of Caracas, close to electric power, natural gas and paved roads and within 200 kms of the ocean port of Puerto Cabello. Description of Company and Purpose of Project The Project involves the commercial development of the Loma de Niquel lateritic nickel deposit 80 km southwest of Caracas, the installation of an on-site ferro nickel smelter to process ores from the mine, and the construction of associated infrastructure facilities including an access road, a water reservoir and a 17 km gas pipeline. The Project is based on proven and probable ore reserves of 34 million tonnes, which is sufficient for a mine life of 27 years with an average production of nickel in ferro nickel of around 16,000 tonnes per year over the life of the Project with a peak production of 18,800 tonnes in 2001. The Project will help Venezuela to diversify from its reliance on the oil industry and will enable the private sector to extend its reach into the mining business. The Project is expected to contribute substantial returns to Venezuela in terms of tax revenues, foreign exchange earnings and employment (direct employment will be 600 Venezuelans). IFCs role is to provide, and attract, through the B loan mechanism, long term financing which may otherwise be unavailable to this viable, long term project. Environmental Category and Issues This a category A project under IFCs environmental review procedure because potentially diverse and significant adverse impacts on the environment may occur. The ore body is grassland on the south crest of a long ridge. There is no reported use of the project site for grazing or agricultural purposes because of the poor soils and grass growth. Reclamation plans include backfilling, which will begin about 3-4 years after mining begins. At the end of the project, overburden from the first 3-4 years will be deposited in the last pit area. The mine is designed to be a zero discharge facility. The nickel refinery will not generate tailings, but will generate a slag that is neither toxic nor acid-generating. Drainage from the slag heap, as well as cooling water from the refinery and drainage from the waste dump and low-grade ore stockpile, will be collected and reclaimed for process water. Emissions (particulates and dust from stacks or stockpiles) will be tightly controlled, and all particulates will be collected and pelletized for reprocessing as ore material. Under Venezuelan law, an Environmental Impact Assessment (EIA) was prepared on the project. The EIA was prepared as part of the feasibility study, and played a role in project concept and design. The EIA consultants worked with local people as information sources, and held meetings with local community groups during EIA preparation. Following preparation of the EIA, local meetings were held in the nearby community municipal offices. Availability of the EIA was also announced in local newspapers with opportunities for comment. The Environmental Assessment is from the Public Information Center. Host country location of environmental documents Ministerio del Ambiente y de las Recursos Naturales Renovables, Piso 10, Centro Simon Bolivar, El Silencio, Caracas Date SPI sent to PIC December 27, 1996 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).
Minera Loma de Niquel C.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
BD - Nickel
Total: $74.50 million
72100000.00
2400000.00
72100000.00
Minera Loma de Niquel C.A.
2400000.00
Minera Loma de Niquel C.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7343/loma-de-niquel-nickel-project
XM-DAC-903-SPI-8210
International Finance Corporation
Telecomunicaciones Movilnet C.A.
Summary Of Project Information (SPI) Project Name Venezuela-Telecomunicaciones Movilnet, C.A. Region Latin America & Caribbean Sector Project No008210 Projected Board DateJune 19, 1997 Company NameTelecomunicaciones Movilnet, C.A. (Movilnet) Technical Partner and/or Major Shareholders Movilnet is a 100% subsidiary of Compania Anonima Nacional Telefonos de Venezuela (C.A.N.T.V.), Venezuelas national and international telecommunications carrier. CANTV was partially privatized in 1991, when the Government sold 40% of the equity and management control to VenWorld, a consortium owned 51% by GTE Corporation, and transferred 11% of CANTVs equity to employees. In November 1996, CANTV launched an international initial public offering that resulted in the Government reducing its shareholding from 49% to 14%, and CANTVs shares being listed on the New York and Caracas Stock Exchanges. Project Cost Including proposed IFC investment US$178.4 million (over the 1997-1998 period). IFC would provide a Senior A Loan of US$25 million for its own account, and syndicate a Senior B Loan of US$50 million for the account of participant banks. Location of project and Description of site Venezuela - nationwide mobile cellular telecommunications network. Description of Company and Purpose of Project Movilnet is one of two companies awarded a 20-year license to operate a national mobile cellular network in Venezuela. In 1996, Movilnet had net revenues of US$127 million, and total assets of US$324 million. The project is to help finance Movilnets capital expenditure program for 1997 and 1998, which consists primarily of: (1) expanding its mobile cellular telephone network throughout the country; (2) providing new services to its subscribers; and (3) continuing its modernization program to install digital technology. The expansion is expected to increase Movilnets subscriber base from 214,000 at the end of 1996 to 370,000 at the end of 1998. IFC will continue its catalytic role of mobilizing long-term bank financing, which it began in 1996 with a US$260 million loan to CANTV for modernization and expansion of its network and financial restructuring. Environmental Category and Issues This is a category B project under IFCs environmental review procedure. Environmental, occupational health and safety issues associated with this project include: radio tower site selection, access road alignment and other land acquisition, development of previously undisturbed land, and employee exposure to noise, other physical agents. Movilnet will comply with applicable World Bank and Venezuelan environmental, health and safety guidelines, and IFC will check compliance by evaluating monitoring reports submitted annually by the Company, and by conducting periodic site reviews during project supervision. Regarding installations of cellular radio antenna, existing towers will be used where feasible, and selection of sites for new towers will be conducted in close coordination with the relevant local authorities. If any structures are planned in environmentally sensitive areas, Movilnet would provide IFC with an impact mitigation plan for clearance by IFC prior to implementation of the respective plan. The is available from the Public Information Center. Date SPI sent to PIC May 1, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 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).
Telecomunicaciones Movilnet, C.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
AC - Mobile Telephony
Total: $35.00 million
35000000.00
35000000.00
Telecomunicaciones Movilnet, C.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8210/telecomunicaciones-movilnet-c-a
XM-DAC-903-SPI-9247
International Finance Corporation
Inter Sea Farms de Venezuela, C.A.
- 5 - International Finance Corporation A Member of the World Bank Group International Finance Corporation A Member of the World Bank Group Environmental Review Summary (ERS) Project Name Venezuela Inter Sea Farms Region Latin America and the Caribbean Sector Food and Agribusiness Project No. 009247 1 . The proposed InterSea Farms Venezuela (ISFV Comprising a joint venture company Sea Farms International (SFI) and Interaqua ) project consists of an integrated shrimp-farming operation near Maracaibo, that includes a shrimp hatchery, production ponds (2,500 ha) and a processing plant. The project is composed of two phases with phase one involving the construction of the hatchery, about 1,000 has. of ponds, and all farm infrastructure and equipment. Phase two is to be implemented two-three years after phase one and consists mainly of the processing facilities and an additional 1,500 has of ponds. At full capacity, the project will generate e mployment for approximately 274 farm staff, 80 hatchery staff, and 500 processing plant staff. IFC financing will be based only in phase one assuming shrimp processing will be undertaken by third parties however, environmental and social appraisal has addressed both phases. As part of the development proposal, the sponsor has prepared and submitted an EIA for the project, which has been approved by Venezuelan authorities. 2. This is a category B project according to IFCs environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical and environmental information submitted by the project sponsor as well as site visits and discussions with the sponsor, national NGO''s and government agency''s. The following potential environmental, social, health and safety impacts of the project were analyzed: · Habitat loss and other ecological impacts arising from development of production areas, hatchery and other facilities; · Farm management and production issues; · Water use and waste water management from production and processing activities; · Solid waste management and disposal; · Environmental Management Systems; · Employment and occupational health and safety issues; · Land acquisition process and possible impacts related to physical and/or economic displacement. The information provided about how these issues and potential impacts have been addressed in the development of the project are summarized in the paragraphs that follow. 3. Habitat loss and other impacts arising from development of production areas, hatchery and other facilities : The farm site (8,000 ha) comprises an extensive clay alluvial plain that lies behind the main coastal sand dunes on the Gulf of Venezuela. The area is flat (except for one line of residual dunes that will be retained in the development) and approximately 80% of the site is devoid of vegetation or supports coarse grass during infrequent periods of rain. The remaining 20% of the site comprises xerophytic vegetation (Acacia and cactus) which are widely distributed throughout the states of Zulia and Falcon. The site does not support significant fauna or areas of standing water that might act as sources of food/security for migratory or other birds or fauna. The loss of these areas of natural habitat will not have a significant impact on the ecology of the area. There are no significant habitat issues associated with the siting or development of the hatcheries or packing plant. 4. To the west of the site lies the 26,000ha Olivitos Wildlife Management Reserve whose boundaries were defined by the Government of Venezuela with support and collaboration from the shrimp aquaculture sector and others. The primary objective of the reserve is to protect birds and other animals and the site supports one of the most important flamingo colonies in the southern Caribbean. A salt producing company - Produsal - is located within the reserve area (an area of 3,000ha along the eastern edge of the reserve) and has been abstracting saline waters from the Reserve''s lagoon for over 10 years. Produsal provides a physical barrier of between 1-2km width between the edge of the ISFV project site and the main wetland and also acts as a barrier to the movement of freshwater from the east into the wetland. There has been no evidence of ecological change within the wetland as a result of Produsals activities and potential impacts arising from the proposed project (through salinization or changes in hydrology) are not considered likely. 5. Farm management and production issues: A semi-intensive production system is proposed (15-20 shrimp/m2) and post larvae (pl) will be provided by two 60 million pl per month hatcheries which will be located at nearby sites on the eastern coast of the Paraguaná peninsula in the State of Falcon. There will be no capture of wild pl. The non-native shrimp species Penaeus vannamei is the culture species of choice for the project and the sponsor will install grills and other control measures to reduce the risk of shrimp escape. P. vannamei is widely used in shrimp aquaculture operations throughout the Caribbean region. 6. Chemical use on the farm will be limited to the addition of calcium and phosphorus compounds (added as an inorganic fertilizer to reduce feed use through the promotion of phytoplankton growth) and malathion or rotenone (to treat residual ponds following shrimp harvesting and drawdown). Use of these materials will be controlled and the sponsor has demonstrated adequate management capacity at other sites to ensure that use will conform to WBG requirements. 7. Water use and waste water management from production and processing activities : Pond water at the farm will be exchanged at the rate of approx. 5 % of volume per day, (2 million m3 per day at full project development) to maintain good dissolved oxygen levels and salinity conditions in the ponds. There is an adequate and sustainable supply of water (which will be drawn from the Gulf of Venezuela) and abstraction will not have a significant impact on other users of the Gulf or the wider environment. At the proposed stocking densities, waste water effluents will be in compliance with WBG requirements (Table 1), however, in addition, the project will incorporate a 225 ha. effluent treatment pond, providing a greater than 24 hr. retention time before discharge water is returned to the Gulf of Venezuela. The inclusion of the effluent treatment pond is to provide flexibility should higher stocking densities be selected in the future. Surface runoff will be directed to a large (812 ha) retention area and then diverted around the site to discharge directly to the sea. It is not anticipated that this will cause significant ecological impacts. 8. The soils at the site are predominantly clay and will form an effective barrier against the seepage of saline waters into the ground. There are no people or agricultural activities within or adjacent to the site that could be affected by changes in salinity. Similarly, given the physical barrier between the site and the Olivitos Reserve, the risk of impacts to the wetland are not significant. The sponsor will be required to monitor groundwater quality as part of the project. 9. Wastewater from the (third party owned and operated) packing plant that the project will use during phase I is discharged to Lake Maraciabo and data provided by the owner demonstrates compliance with Venezuelan standards and requirements. The new packing plant that will be designed to comply with effluent WBG requirements. 10. Solid waste management and disposal : The principal waste materials generated by the farm and packing plant will be: sanitary wastes of employees, materials from office and cafeteria, repair shop discards including used motor oil, feed sacks, and shrimp heads. The sponsor will recycle and re-use material where possible and will dispose of remaining farm waste at the Quisiro landfill which will be improved through a joint program to be developed by the sponsor and local municipality. 11. Hazardous Materials Use and Management : Hazardous materials that will be used include: diesel fuel, rotenone, malathion, chlorine, and lime. (Table 2). Diesel fuel will be stored in secure tanks with secondary containment. Rotenone and malathion application will be by trained operators, and chemicals will be stored in a secure location. The existing packing plant uses Freon 502 refrigerants and there are no significant emissions from other sources. The new plant will use ammonia or CFC free refrigerants and will be designed to comply with WBG requirements. 12. Environmental Management Systems (EMS) : An EMS will be established and in house monitoring of key parameters will be undertaken. This will be complemented by periodic sampling by independent and government agencies as part of the permitting requirement of the Government of Venezuela. Responsibility for implementing and supervising the EMS will be assigned at the senior technical level, reporting directly to the projects General Manager. The packing plant is HACCP and ISO 9000 certified and the ISFV operation will develop and implement similar quality management and health and safety requirements when it develops its packing plant. The project will also be designed to comply with the Global Aquaculture Alliance''s codes of practice for responsible shrimp farming Global Aquaculture alliance (1999) Codes of practice for responsible shrimp farming GAA St Louis MO ( http://www.GAAlliance.org ) . 13. Occupational health and safety issues : The sponsor will provide a full support and benefit package as required under Venezuelan law (social security and insurance, minimum wage + 20%, vacations and productivity bonus). As per the Venezuelan Labor Code, an Occupational Health and Safety plan will be implemented as part of the project. 14. Land acquisition process and possible impacts related to physical and/or economic displacement : The farm will be developed on approximately 8,000 hectares whose southernmost boundary is located approximately 2 km to the north of the village of Quisiro. The entire site was acquired by Interaqua in two lots from a single family in the early 1990s and there has been no physical resettlement or economic displacement. The project will not affect public access to the beach or interfere with traditional fishing and recreational activities carried out there. There are no recorded archaeological or cultural remains or sites within the development area. 15. IFC will monitor ongoing compliance with World Bank Group environmental, social, health and safety policies and guidelines during the lifetime of the project by evaluating reports submitted annually to IFC by the sponsor and by conducting periodic supervision. In particular, IFC will require annual confirmation: · of compliance with Venezuelan EIA review requirements (relating to compliance with Venezuelan norms and standards, construction practices, mitigation and monitoring practices - including those relating to monitoring of ecological impacts to the Olivitos wetland); · of pesticide (and other agrochemical) use and management practices as well as details of pests controlled; · that the company is achieving WBG requirements for waste water quality from all its sites and Venezuelan effluent standards from the Maracaibo packing plant that is owned by third parties; · that the development and operation of the Quisiro landfill complies with WBG requirements; and · of the progress in implementing the company''s EMS. 16. Based on its review of available information regarding potential environmental impacts and proposed mitigation measures, IFC concludes that the proposed project will meet World Bank Group environmental, social, health and safety policies and guidelines and host country requirements. Table 1 Waste water quality from existing Interaqua operations Parameter Measurement World Bank Guideline PH ±7.5 6-9 BOD5 <25 50 mg/L Oil and Grease N.A. 10 mg/L Total Suspended Solids <25 50 mg/L Coliforms <50 < 400 MPN/100 mL Temperature Increase N.A. <3º C. Based on existing GGM operations Table 2 Estimated chemical use at the farm Diesel Fuel 893,300 gallons/yr., for pumps, vehicles etc Rotenone Approx 4,000 lbs/yr , for pond preparation. (5-8 % active ingredient) Malathion 1 x 55 gallon /pa at full development Chlorine Approx. 4,000 lbs/yr, for disinfecting shrimp handling containers. Lime Approx 20,000 lbs/yr., for pond bottom preparation 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).
Intersea Farms de Venezuela, C.A.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
BC - Animal Aquaculture
Total: $8.00 million
5000000.00
3000000.00
5000000.00
Intersea Farms de Venezuela, C.A.
3000000.00
Intersea Farms de Venezuela, C.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9247/inter-sea-farms-de-venezuela-c-a
XM-DAC-903-SPI-9426
International Finance Corporation
Propileno de Falcon CA
Summary Of Project Information (SPI) Project Name: Venezuela: Profalca Region:Latin America and Carribean Sector: Project No:009426 Projected Board Date:April 30, 1999 Company Name:Propileno de Falcon C.A. Technical Partner and/or Major Shareholders Shareholder are Koch Petroleum, a wholly owned subsidiary of Koch Industries Inc (USA), Productos Especiales PROESCA CA, an affiliate of Petroleos de Venezuela S.A. (PDVSA, Venezuela), Inversiones Polar S.A. (Venezuela) and Inepropril, a subisidiary of Inelectra (Venezuela). Project Cost Including proposed IFC investment The estimated project cost is US$102 million. IFC is considering a loan of up to US$58 million for its own account and the account of participating banks. Location of project and Description of site The project is located adjacent to the Paraguana Refining Center (Cardon) in the State of Falcon, Venezuela, owned and operated by PDVSA. Description of Company and Purpose of Project The facility is a propane/propylene splitter which will produce an average of 130,000 mt/yr of polymer grade propylene, a chemical feedstock used primarily for the production of polypropylene. The Company is expected to sell most of its output to export markets. The main local sponsor, PROESCA, is responsible within the PDVSA group for projects to transform intermediate refinery streams, traditionally used as fuels, into products with higher added value. The project is part of this program to promote local and foreign investment in order to achieve more complete downstream industrialization and contribute to economic development of the country. Support from IFC demonstrates continuing commitment to promote private sector development and foreign direct investment in Venezuela. Environmental Category and Issues This is a category B project according to IFCs environmental review procedure. Main potential issues related to the project include: site selection, and site selection procedures; air emissions; liquid effluent handling, treatment and discharge; solid and hazardous waste handling and disposal ; contingency and emergency planning and response; and general health and safety issues. The project site occupies approximately 6 hectares and is located within the Paraquana Refining Complex. The project will not involve human resettlements and will not impact sensitive habitats. PDVSA will supply services including electricity; steam; docking facilities; emergency fire fighting service; and supply of raw, process, and fire fighting water. The process will not generate air emissions or process liquid effluent. Oily waters resulting from either equipment maintenance or malfunctions will be treated onsite. The catalysts generated will be collected, properly stored and sent back to the suppliers for recycling purposes. Domestic residues will be collected and properly disposed at a landfill authorized by the local authorities. Profalcas fire prevention measures will follow the strict refinery requirements for construction, design and operation. Profalca will implement occupational health and industrial safety training programs and will establish procedures including proper handling of chemicals substances, hearing, respiratory protection, and basic sanitation, in accordance with international standards. Profalca will annually submit to IFC a monitoring report to ensure ongoing environmental compliance during the life of the project. Based on the review of the available information regarding potential environmental impacts and proposed mitigation measures, IFC concludes that the proposed project is being designed to meet Government of Venezuela requirements, and World Bank policies, and environmental, health and safety guidelines. The is from the InfoShop. Date SPI sent to InfoShop: March 24, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 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).
Propileno de Falcón, C. A. (Profalca)
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
BE - Petrochemical
Total: $24.00 million
24000000.00
24000000.00
Propileno de Falcón, C. A. (Profalca)
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9426/propileno-de-falcon-ca
XM-DAC-903-SPI-9463
International Finance Corporation
Forestal Trillium
Summary Of Project Information (SPI) Project Name: Venezuela: Forestal Trillium de Venezuela Region:Latin America and Caribbean Sector: Project No:009463 Projected Board Date:May 21, 1999 Company Name:Forestal Trillium de Venezuela, C.A. Technical Partner and/or Major Shareholders The major sponsor and shareholder is Trillium Corporation, based in Bellingham, Washington, U.S.A. Associated with Trillium on the project is Harry Merlo, (Chairman and CEO of Louisiana Pacific, 1974-1995) who pioneered the commercial development of engineered wood products, including OSB, for Louisiana Pacific in the 1970s. Also involved in the project is James Eisses, who served as Executive Vice President and Director of Engineered Products during his tenure with Louisiana Pacific from 1974-1995. Messrs. Merlo and Eisses will be providing important marketing and technical production expertise, respectively. Project Cost Including Proposed IFC Investment The project cost is estimated at US$91 million, and IFC''s proposed investment will amount to US$61 million, including a US$17 million A Loan for IFC''s own account; a US$38 million B Loan for the account of participants, and an equity investment of up to US$6 million, also for IFC''s own account. Location of Project and Description of Site The Forestal Trillium plant will be located in the industrial area of Ciudad Guayana, Venezuela, about 20 km west of the port of Palua on the Orinoco River. The project will be integrated with the operations of an existing sawmill, Corporation Forestal Uverito (CFU)and will benefit from existing infrastructure (roads, electric power, etc.) on the project site. Description of Company and Purpose of Project (include IFCs Role and Development Impact) Forestal Trillium will be an integrated forestry products project involving the design, construction and operation of a plant to produce oriented strand board (OSB) and dry-process hardboard ("Hardboard") from a Government sponsored, Caribbean Pine plantation in Puerto Ordaz, Venezuela. Forestal Trillium will use fiber from this plantation, in the form of pulp logs and residual output from the existing CFU saw mill to create value-added products for export. Construction will take an estimated 21 months. The Trillium Corporation sponsors seek long-term and competitively priced financing for their project, which is not available in Venezuela. While Forestal Trillium will benefit significantly from the existing CFU sawmill and infrastructure forming part of the venture, this project should be regarded more as a greenfield, project finance operation, with its implementation period of 21 months. As such, the project requires appropriate grace periods and tenors to ensure proper capitalization. Given that this is Trillium Corporations first operation in Venezuela, a country with a difficult political and economic environment, it is looking to IFCs experience in structuring bankable project finance transactions in Venezuela. Beyond IFCs general sector knowledge, Trilliums Management also values IFCs specific acquaintance with the Caribbean Pine plantation related to the project. In 1995, IFCs Technical Department appraised the plantation in connection with a mandate to advise the Venezuelan Government on the privatization of CVG-PROFORCA. While such privatization never materialized, IFC gained valuable information on the plantation at that time which it can now share with the project sponsors and potential investors. The development impact of the Trillium Forestal project is positive. Most importantly, the Venezuelan Government (CVG) is eager for Trilliums project to materialize given that its Caribbean Pine plantation is mature, overgrown and in great need of harvesting. Trees are beginning to decay and are entering a use it or lose it phase. The Trillium Forestal project will thus help CVG start to generate returns on its investment of the last 30 years. Trillium Corporation can also bring important advantages to CVG and the Venezuelan forestry industry by offering technical advice based on its extensive experience with sustainable forestry management and the superior leadership to be provided by its project team. Finally, this project will allow IFC to play an important catalytical role in bringing long-term financing into Venezuela. Environmental Category and Issues This is a category B project according to IFCs environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The following potential environmental, social, health and safety impacts were analyzed: plantation management (including pest control) and sustainable harvesting issues, site acquisition, air emissions from processing facility, water use and waste water management, solid waste management and disposal, adequacy of transport and infrastructure to export, fire protection and emergency response, and occupational health and safety. The plantations, from which the sponsor will obtain raw wood, cover an area of approximately 800,000ha - of which 450,000ha have been planted with Caribbean Pine over a period of 30 years. The management of the plantation provides for appropriate environmental protection through retention of areas of natural vegetation, and controls on the use of agrochemicals and erosion. The construction of the mill sites will not result in damage to ecologically sensitive habitats and has not required resettlement or economic displacement. The sponsor will also develop a docking facility on the Orinoco River. The final location of this site has yet to be agreed but the sponsor has confirmed that any development will be in accordance with World Bank Group (WBG) requirements. Air emissions from processing activities will be in compliance with World Bank Group requirements. The only wastewater that will be generated from processing is clean up water (which will be re-used in the manufacturing process) and septic waters from bathroom facilities which will be discharged to a septic tank. Solid waste will comprise bark/process fines which cannot be used for product and which will be burnt in an incinerator (with ash disposal as soil conditioner). Other waste arisings are small and include scrap metal and office materials which will be disposed of in a municipal landfill. The mill buildings will be sprinklered throughout, and the mills will be operated in accordance with a health and safety plan with standards equal to or exceeding those recommended by the American Panel Board Association model guidelines. The is April 21, 1999 from the Public Information Center. Host country location of environmental documents Venezuela Date SPI sent to InfoShop April 20th 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 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).
Forestal Trillium
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
FC - Wood Panels and Engineered Wood Products
Total: $22.80 million
16800000.00
6000000.00
16800000.00
Forestal Trillium
6000000.00
Forestal Trillium
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9463/forestal-trillium
XM-DAC-903-SPI-9624
International Finance Corporation
Electricidad de Caracas SACA
Summary Of Project Information (SPI) Project Name: Venezuela - EDC Region:Latin America and Caribbean Sector: Project No:009624 Projected Board Date:June 16, 1999 Company Name:C.A. La Electricidad de Caracas, S.A.C.A. ("EDC") Technical Partner and/or Major Shareholders EDC is a vertically integrated private company which owns and operates 2,265 MW of capacity and distributes power to the Caracas area. In 1998 its sales revenues were about US$763 million equivalent and year-end total assets amounted to US$3.3 billion and net worth of US$2.6 billion. Net income for the year was US$128 million with an EBITDA of US$387 million. In addition to EDC, the EDC Group includes Corporación EDC which holds and develops international operations and non-regulated Venezuelan businesses including electricity services, gas, water and telecommunications. Corporación EDC has acquired CORELCA and EPSA, a distribution company and a vertically integrated company respectively in Colombia and CAESS and EEO, two distribution companies in El Salvador. Project Cost Including proposed IFC investment Total project cost is estimated at US$100 million. IFC''S proposed investment is a US$40 million "A" loan. Location of project and Description of site The project is located in the capital city of Caracas and its suburbs. Description of Company and Purpose of Project EDC is a private Venezuelan integrated electricity utility serving the Caracas area. Founded in 1895, EDC (the Company) is the largest listed company on the Caracas stock exchange and is owned by over 68,500 shareholders. The Company serves a population of 4.5 million people and has over 1 million customers. IFC is considering extending a corporate loan in the form of a US$40 million "A" Loan and a US$35 million "B" Loan. Environmental Category and Issues This is a category B project according to IFCs environmental and social review procedure. The project includes significant environmental benefits (such as loss reduction and energy efficiency components) and social benefits (for instance, provision of electricity to previously unserviced neighborhoods). As this is a corporate loan, the environmental and social review of this project focused on: (i) the capacity of EDC to implement environmental and social programs, and (ii) compliance of the project''s sub-projects within the corporate loan with the applicable IFC environmental and social guidelines and policies. A specialist from the environmental and social review unit met with the Environmental Health and Safety Department at EDC and visited several of the project sites to be financed by the corporate loan. EDCs Environmental Health and Safety Department has a history of positive participation in EDC''s developmental and operational activities. The project will comply with IFC''s environmental and social guidelines and policies. Independent audits of the Environmental Health and Safety Department''s capacity in twenty areas were completed in 1995 and 1998, and a third audit is scheduled for 2001. The transmission lines component will not involve any relocation, land is being acquired in accordance with IFCs Involuntary Resettlement Policy, and EDC does not use herbicides in the maintenance of its transmission lines Right of Way. The transmission lines will not involve people resettlement. While it is not contemplated that IFC''s corporate loan would finance the generation side of EDC, IFCs environmental specialist has concluded that the two generating stations (installed capacity of 2140 MW) comply with the IFC Guidelines for Thermal Power Plants, except for one area. The older gas plants do not comply with the Guidelines with respect to NOx emissions. However, these older plants are to be phased out and replaced by combined cycle technology, which will be in compliance with World Bank environmental guidelines. This is anticipated to be achieved in 2002. Also, the new operations of EDC are PCB free. The Company has disposed of 99.8% of its accumulated PCBs with the remaining to be disposed of by the end of the first quarter of 2000. This disposal program is in compliance with the IFC Guidelines. Across EDC, health and safety practices are state-of-the-art and housekeeping practices at all facilities conform with best international practice. The is from the InfoShop. Host country location of environmental documents Venezuela and the United States of America Date SPI sent to InfoShop May 17, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 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).
C.A. La Electricidad de Caracas
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
EA - Distribution Business
Total: $40.00 million
40000000.00
40000000.00
C.A. La Electricidad de Caracas
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9624/electricidad-de-caracas-saca
XM-DAC-903-SPI-11179
International Finance Corporation
Venezuela River Terminals
The Riverside Terminal project comprises the development of two floating dock facilities (a ship dock and a barge dock) for public use in order to serve the industrial zone of Ciudad Guayana. The floating barge terminal of the Riverside project started operations in late 1999 and is currently being operated by ACBLV. Once completed, the terminal will provide dependable ship and barge loading/unloading facility with warehousing and logistics for the industrial zone located around the facility. The terminal will handle bulk, break bulk and containerized cargo. The Riverside project includes: (i) purchase of 24.9 hectares of land, (ii) purchase of barges to serve as dock, (iii) purchase of handling equipment, and (iv) development of related infrastructure. The GMSV project involves a floating barge unloading terminal for unloading of bauxite transported by barges from CVGBs mine in El Jobal to its alumina production plant in Ciudad Guayana. GMSV will sign a five-year take-or-pay contract with CVGB for unloading a minimum of 4.6 million tons of bauxite annually. The GMSV project includes: (i) purchase of barges needed for the floating dock, (ii) purchase and installation of two equilibrium cranes (E-Cranes) and (iii) purchase and installation of a conveyer system to connect to the existing conveyer system of CVGB. The proposed projects would help to relieve the port congestion problems in the area by providing efficient cargo handling services. Consequently, the proposed IFC investment would help to: (i) reduce the cost of transportation and thereby benefit shippers, shipping lines and consumers alike; (ii) encourage competing facilities in the region to increase their efficiency and, therefore, serve as a catalyst for increased trading activity in the region as a result of reduced costs; and, (iii) create additional employment for the region and bring about upgrading of workers'' skills. IFC will bring to this project financing at a tenor and interest rate which is essential for this project but not available from other sources. IFC will play a key role in creating an appropriate financial structure for the project. Given IFC''s experience of financing port projects around the world, IFC involvement in this venture would also encourage another multilateral institution to participate in the financing.
Global Materials Services Venezuela, C.A. / ACBL Riverside Terminals C.A.
For the Riverside project: Mr. James Fox, Director ACBLV Calle El Callao Torre Lloyd Piso 3 Puerto Ordaz Venezuela For the GMSV project: Mr. Martin W. Moore, Ex. VP/CFO Global Materials Services LLC 100 Peabody Place, Suite 1300 Memphis, TN 38103
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
The Riverside terminal site is located on the right descending bank of the Orinoco River, 194.5 miles away from Orinoco Delta, in Ciudad Guayana, Venezuela, between Venalum and Sidor terminals and in close proximity of Matanzas industrial zone. Access to the Orinoco River from the Atlantic Ocean is made through the Boca Grande channel and is navigable during day or night throughout 12 months with the help of buoys. The GMSV terminal will be an extension of a dock owned by CVG Bauxilum at its alumina production plant in Ciudad Guayana, Venezuela, located on mile 193 (from the Orinoco River delta) on the right descending bank of the Orinoco River. GMSV will unload bauxite transported by barges from CVGBs mine in El Jobal (located about 600 km upstream the Orinoco river) to Ciudad Guayana during the navigation season of that section of the Orinoco river (from May through December). The two ports will be located in close proximity to an industrial zone with the concentration of mining and mineral industries.
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
BB - Port and Harbor Operations
Total: $9.80 million
8800000.00
1000000.00
8800000.00
Global Materials Services Venezuela, C.A. / ACBL Riverside Terminals C.A.
1000000.00
Global Materials Services Venezuela, C.A. / ACBL Riverside Terminals C.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11179/venezuela-river-terminals
XM-DAC-903-SPI-11398
International Finance Corporation
Perez Companc - Venezuela
PCV operates directly and indirectly four oil and gas fields in Venezuela. Each contract has a twenty year term period. Summary details are: Oritupano-Leona , a Second Round operating contract signed in 1993. La Concepcion , Mata and Acema - all third round operating contracts signed in 1997. The Oritupano-Leona and La Concepcion Fields are operated directly, whereas the Mata and Acema fields are operated indirectly through subsidiaries. PCV has also secured two (gas) exploration contracts with the government of Venezuela in the San Carlos and Tinaco blocks. These contracts are still in an early exploration phase. PCV has a strong track record of operations in Venezuela. The company has increased oil production on the fields it operates from 13,800 bpd to 74,800 bpd. Furthermore, PCV has demonstrated its ability to be an efficient operator through a very successful reserves replacement and reserves addition efforts. The company''s operations are well regarded by both PDVSA and the government of Venezuela. PCV has requested IFC assistance in funding capital expenditure to increase production in each of the fields it operates. The funds will be used for drilling a new producer and water injector wells, the construction of new field facilities, and workovers on existing wells. PCV plans to increase production in each of the fields, thereby enhancing the economic value of each field. Benefits to Venezuela include royalties, national and local taxes and the efficient utilization of a marginal fields. The fields are all located in rural areas and constitute a major source of employment for residents in those areas. IFC will fulfill the following key roles in this project: Supporting Pecom, a regional player, in accessing financing to develop the substantial reserves that it has in the region. Besides Argentina, Pecom''s regional interests span from Venezuela, to Bolivia, Ecuador, Peru and Brazil. Venezuela now contributes 26% of the Groups total oil production and is an important contributor to Pecoms growth in this business. Pecom is an existing IFC client. In the current macro environment, IFCs support for its project in Venezuela will lead to a more efficient use of scarce capital by Pecom and support its growth. All PCVs operations have primarily been funded through equity despite the fact that they are mature fields with strong reserves. Pecom acknowledge that future capital expenditure must be funded through loans which will release scarce capital to support projects in other parts of the region. Supporting a client that endorses the principles related to sustainable development. PCV has already secured ISO 14001 certification and is committed to implementing best practice environmental and social policies.
Petrobras Energia Venezuela S.A.
Gustavo Mas or Leonardo Barrios Perez Companc de Venezuela Aveneida Venezuela Torre Lamaletto Piso 9 El Rosal, Caracas
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
PCV operates four oil producing fields in Venezuela under operating service agreements with Petroleos de Venezuela, S.A. (PDVSA), an energy corporation owned by the government of Venezuela. More specifically the fields are: La Concepción, located in the west part of the country in Maracaibo, Oritupano-Leona, Acema, and Mata, located in the eastern part of the country in the states of Anzoátegui and Monagas. The contracts were all awarded as part of a competitive bidding process. All of the fields are well established.
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
AB - Oil and Gas Production (Includes Development)
Total: $125.00 million
125000000.00
125000000.00
Petrobras Energia Venezuela S.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11398/perez-companc-venezuela
XM-DAC-903-SPI-23450
International Finance Corporation
Petrofalcon
Vinccler Oil and Gas, C.A., (VOG or the company) is a Venezuelan company engaged in the exploration and production of oil and gas in Venezuela. VOG is seeking financing for the continued development of the East Falcon Unit, which it operates under a Second Round Operating Service Agreement entered into with the state-owned Petróleos de Venezuela Sociedad Anónima (PDVSA) in 1995. The project involves expanding production from the Cumarebo and La Vela fields in the East Falcon Unit and includes the drilling of development and exploration wells, the installation of gathering systems and the construction of new production facilities in La Vela.
Vinccler Oil & Gas C.A.
Mr. Emilio Sánchez, General Manager Edificio Centro Altamira, 13th floor, Av. San Juan Bosco Caracas 1060, Venezuela Phone: (58 212) 265-6431 Fax: (58 212) 266-8830
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
The Cumarebo and La Vela fields are located in the state of Falcon, in western Venezuela.
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
AB - Oil and Gas Production (Includes Development)
Total: $36.00 million
36000000.00
0.00
36000000.00
Vinccler Oil & Gas C.A.
0.00
Vinccler Oil & Gas C.A.
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/23450/petrofalcon
XM-DAC-903-SPI-8791
International Finance Corporation
Jose Methanol Expansion
Metanol de Oriente S.A. (Metor or the company), a Venezuelan company established in 1992, is a leading Latin American producer of methanol with a nameplate capacity of about 750,000 metric tons per year (mtpa). The company exports about 80% of its output to the U.S. and Europe. Metor, an IFC client and partner since 1993, has requested an IFC A loan of up to $50 million to help finance the expansion of its existing plant, located at the Jose Petrochemical Complex in the State of Anzoategui, which would increase its production capacity to up to about 1.6 million mtpa. The feedstock for the project would be provided by Petroleos de Venezuela S.A. (PDVSA), the Venezuelan state energy company. The projects output would be sold through off-take contracts with its three major shareholders (see Sponsor section). The project is expected to be completed during the last half of 2009.
- Gas sector development/value-added processing: two-fold impact of supporting further development of gas as a cleaner and environmentally friendly source of energy, and helping to diversify the Venezuelan economy away from its heavy reliance on the oil sector. This is particularly important in countries such as Venezuela where oil accounts for about 25% of GDP, 80% of exports and 50% of fiscal revenues. - Promotion of local value-added to primary products by supporting secondary processing facilities: about two-thirds of Metor''s production will be exported, while the balance will be further processed by local downstream customers in making fuel additives to improve vehicle emissions, and for general industrial purposes. - Create employment opportunities and community impact: the company employs about 160 people. Given the economies of scale in petrochemical operations, the expansion project will only require about 40-50 additional permanent workers; however there is a multiplier effect and industry sources estimate there are about 6 indirect jobs created for every one direct. Up to 2,300 jobs will be supported during the construction phase of the project, about 90% of which will be local. Eight of the nine-member management teams are locally recruited. The company contributes about $300,000/year through its Social Responsibility Program, which focuses on housing, health and education for employees and the local community. - Improve environmental and safety standards: the project will adopt strict environmental, social and safety standards which, in turn, will provide a demonstration effect to other similar projects in Venezuela. - Taxes and export earnings: the project is estimated to pay an incremental $900 million in taxes over the life of the proposed IFC loan. Although Venezuela generates major foreign exchange receipts from its oil exports, it is nonetheless worth noting the company is forecast to generate about $2.1 billion in exports over the life of the proposed IFC loan.
Metanol de Oriente Metor S.A.
Metanol De Oriente, Metor S.A. Edificio Pequiven, Complejo Petroquímico General José Antonio Anzoátegui, Jose, Edo. Anzoátegui Venezuela Apdo. Postal 5077. Location of Environmental Documents accessible to locally affected communities: Local Public Library in Barcelona.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Venezuela, Republica Bolivariana de
The project is located in the East Petrochemical Complex (Complejo Petroquimico de Oriente) at Jose. The Jose complex encompasses a total area of 2,177 hectares, located on the coast approximately midway between Puerto Espiritu and the cities of Barcelona and Puerto Cruz. The site is excellent and well suited for the project from both operations and logistics (for export) standpoints.
Location description
A description that qualifies the activity taking place at the location.
8.0000000000 -66.0000000000
BE - Petrochemical
Total: $50.00 million
50000000.00
50000000.00
Metanol de Oriente Metor S.A.
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8791/jose-methanol-expansion