PROJECT

Projects

Environmental & Social Review Summary

Project Number

30029

Company Name

KHI GHANA 01 LIMITED

Date ESRS Disclosed

Nov 24, 2010

Country

Ghana

Region

Africa

Last Updated Date

Jun 3, 2021

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Dec 23, 2010
Signed : Feb 22, 2011
Invested : Dec 13, 2011

Sector

City and Business Hotel

Industry

Tourism, Retail and Property

Department

Regional Industry - MAS Africa

Project Description

The project consists of a $26 million loan to Kingdom Hotel Investments (KHI) for the development of the 5-star Mövenpick Ambassador Hotel (“the hotel”) in Acrra, the capital city of Ghana. KHI is owned by Prince Alwaleed bin Talal bin Abdul Aziz Alsaud (Prince Walid) of Saudi Arabia, and is an international operator in the hospitality and leisure business. The company has hotels and resorts located in Asia, Middle East, North Africa and Sub-Saharan Africa. IFC has an existing investment with KHI for the refurbishment and rebranding of several hotels in Kenya. The hotel is located on Independence Avenue, one of Accra’s major thoroughfares and situated adjacent to several large commercial developments which form part of the city’s central business district. The site was previously occupied by the Ambassador Hotel, a gift from the United Kingdom to Ghana in recognition of the country’s independence in 1957. The Ambassador Hotel ceased operations in the early 1980’s, and in 2005 KHI obtained a lease from the Government for the 67,000 m2 site, along with approval to construct a new hotel. Given the original Ambassador Hotel was in a state of disrepair, the structure was demolished to facilitate development of the new Mövenpick Ambassador Hotel. Construction activities commenced in 2008 with completion of the hotel anticipated in April 2011. The hotel has 259 guest rooms and includes 9,000 m2 of office space and 1,260 m2 of retail space. An area has also been allocated for construction of apartment units which is to commence once the hotel is operational. KHI commissioned Dar-Al-Handasah, a company specializing in architectural design, engineering and project management to design the hotel and undertake quality assurance during project implementation. A joint venture between a local construction company and an Italian company were commissioned by KHI to construct the hotel. Once finalized, the hotel will be operated by Mövenpick Hotels and Resorts (Mövenpick), a global hotel management company.

Overview of IFC's Scope of Review

IFC’s review for this project included meetings with KHI’s Vice-President and Group Treasurer and their Project Manager and Resident Engineer, the contractor’s Safety Manager and representatives from Dar-Al-Handasah and Mövenpick. In addition, a site visit was undertaken and the following information reviewed: Reponses to the environmental and social appraisal questionnaire The Environmental Impact Assessment (EIA) Various authority approvals including that related to the EIA, the lease agreement for the site and planning approval Contractual documentation between KHI and the construction company, and the management agreement between KHI and Mövenpick Mövenpick’s human resources documentation and operational manuals to manage security and life and fire safety

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Client Documentation

File Name Actions
KHI Ghana_ESAP_November 2010.pdf
KHI Ghana_EIA Report.pdf
KHI Ghana_EPA Permit.pdf
KHI Ghana_Scoping Report.pdf
KHI Ghana_Traffic Study.pdf
KHI Ghana_Traffic Study_Appendix A.pdf
KHI Ghana_Traffic Study_Appendix B.pdf
KHI Ghana_Traffic Study_Appendix C.pdf