PROJECT

Projects

Environmental & Social Review Summary

Project Number

29029

Company Name

TERMINALES RIO DE LA PLATA S.A.

Date ESRS Disclosed

Apr 30, 2010

Country

Argentina

Region

Latin America and the Caribbean

Last Updated Date

Jun 3, 2021

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Aug 30, 2010
Signed : Sep 9, 2010
Invested : Mar 15, 2011

Sector

Port and Harbor Operations

Industry

Infrastructure

Department

Regional Industry INF LAC & EUR

Project Description

Terminales Rio de la Plata S.A. (“TRP” or the “Company”), an existing IFC client, operates an international container facility in the port of Buenos Aires under a 25-year concession awarded in 1994 and ending in 2019. The Company operates three finger piers, in which there are 8 Quay Cranes, in an area of 43.5 hectares (depth of 9.8m). TRP handles containers, break bulk, vehicles as well as cruise passengers through its operation of the “Benito Quinquela Martín” Cruise Terminal which handles all cruise traffic in the Port of Buenos Aires. TRP does not handle dry (i.e. grain, coal) or liquid (i.e. hydrocarbons) bulk cargo. Over the last years, the number of cruise ships calling Buenos Aires has increased from 65 in 2004/2005 to 141 in the 2009/2010 season resulting in increased passenger traffic in the terminal building from 66,000 to more than 336,000. Given the sustained growth of the cruise traffic in Buenos Aires, TRP is investing to refurbish the cruise passenger terminal and improve the service provided to its cruise passengers. At the same time with the objective of reducing congestion in the berthing of ships that occurs during the peak season, TRP is modifying the layout of one of the piers. This will allow TRP to better support their clients in the Cruise business, improve efficiency of its overall operation and deliver a higher value service to passengers and shipping lines. Under the proposed project, IFC would help TRP finance (i) the modification of one of the Company’s piers; and (ii) the refurbishment of the cruise terminal building. Upon completion, TRP will increase its ability to simultaneously berth the largest cruise ships in a separate area of the terminal. Additionally, the new cruise terminal building will be able to handle 480,000 passengers per season with an improved level of service. TRP is 55.624% controlled by Dubai Ports World (“DPW”) that is one of the largest marine terminal operators in the world, with 49 terminals and 12 new developments across 31 countries. IFC has a long-standing relationship with DPW and has invested in 2 of DPW’s terminals (Caucedo in Dominican Republic and Sokhna in Egypt), which have been compliant with IFC’s applicable environmental and social standards.

Overview of IFC's Scope of Review

IFC’s review of this repeat investment relied on the periodic and ongoing supervision of TRP’s environmental and social performance per the conditions of IFC’s existing investment in the company, including the review of the company’s Annual Monitoring Reports from 2007 to 2009. The review also included a site visit to TRP’s facilities and meetings with the Company’s staff in charge of ESHS issues as well as with representatives of the Port Authority. Specific items reviewed include: (a) Project’s environmental impact assessment; (b) human resources policies and management; and (c) ESHS management systems and procedures. The review also included information related to IFC’s supervision of the environmental and social performance of other 2 IFC port projects with Dubai Ports World (“DPW”): Caucedo in Dominican Republic and Sokhna in Egypt.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Client Documentation

File Name Actions
TRP-Preliminar EIA 11_09.pdf
TRP ESAP (FINAL 4_26_10).pdf