PROJECT

Projects

Summary of Investment Information

Project Number

33121

Company Name

RENAISSANCE SERVICES SAOG

Date SPI Disclosed

Jun 11, 2013

Country

Middle East, Pakistan, and Afg Region

Region

Middle East

Projected Board Date

Feb 26, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Regional Industry INF MCT

Industry

Infrastructure

Previous Events

Approved : Feb 26, 2013
Signed : Mar 19, 2013
Invested : Mar 25, 2013

Sector

Water Transportation

Project Description

Renaissance Services SAOG (“Renaissance” or the “Company”) is a multinational Oman based entity listed on the Muscat Securities Market with operations in 16 countries across the emerging markets. Renaissance’s core operations are focused on providing services to energy leaders in the oil & gas industry primarily in MENA and the Caspian region. It is organized in to three distinct businesses: (i) the marine business operates Offshore Support Vessels to support clients in the offshore oil & gas industry; (ii) the engineering business provides services to the oil & gas and marine industry; and (iii) the Contract Services Group provides accommodation facilities for oil & gas contractors. IFC’s investment in the Company will be allocated to the capital expenditure requirements of its marine business.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation