Summary of Proposed Investment
Project Number
10081
Company Name
San Antonio Terminal Internacional S.A.
Date SPI Disclosed
Apr 6, 2000
Country
Chile
Industry
Infrastructure
Status
Completed
Sector
Port and Harbor Operations
Department
Regional Industry INF LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : May 12, 2000
Signed : Nov 15, 2000
Invested : Dec 21, 2000
Project Description
Summary Of Project Information (SPI)
RegionLatin America and the Caribbean
Sector
Project No010081
Projected Board DateMay 8, 2000
Company NameSan Antonio Terminal Internacional S.A. (STI)
Technical Partner and/or Major Shareholders
San Antonio Terminal Internacional S.A.''s (STI) shareholders consist of: Sudamericana Agencias Aéreas y Marítimas S.A. (SAAM), a Chilean stevedoring and transport service company owned by Compañia Sud Americana de Vapores, a shipping company; and Stevedoring Services of America, a US-based international port operator.
Project Cost Including Proposed IFC Investment
The estimated project cost is US$178 million, including concession fees, civil works, equipment, contingencies, value added tax, working capital and financing fees. IFC proposed investment would include an A loan of up to US$35 million, a B loan of up to US$65 million and an equity investment of up to US$3.7 million.
Location of Project and Description of Site
The project site is located in the city and province of San Antonio, in the Region V of Chile, about 100 km west of Santiago, which makes it the closest port to the capital city. The area under the concession is the Molo Sur Terminal within the Port of San Antonio and comprises about 30 hectares, of which 18 hectares will be developed as a container yard. The area also includes an existing 565-meter quay that will be extended to 725 meters. The average water depth at the quay side is in excess of 10 meters. In addition to good road access, the terminal is served directly by rail and a rail yard exists within the port.
Description of Company and Purpose of Project
STI has been established exclusively to operate, maintain and expand the Molo Sur Terminal under a 20-year concession by Empresa Portuaria San Antonio (EMPORT), the port authority of San Antonio. The purpose of the project is to expand the terminal''s capacity from 300,000 teu to 600,000 teu per year and to improve the overall efficiency and quality of the terminal’s services. IFC would be arranging long-term financing for the project including mobilizing debt from international sources. San Antonio is one of the first three ports to be privatized in Chile. Accordingly, IFC’s support of the project is expected to have an important demonstration impact on the port sector.
Environmental Category and Issues
This a category B project according to IFC’s 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 potential environmental, safety and health and social issues associated with the project are: construction and maintenance dredging and dredge spoil disposal; effluent treatment; stormwater management; oil/hazardous materials storage and handling; handling and storage of dangerous cargoes; solid and hazardous waste disposal; emergency planning and response; employee health, safety, and training programs; and EHS organization and management.
IFC concludes that the proposed project will meet the applicable World Bank/IFC environmental and social policies and the environmental, health and safety guidelines upon successful implementation of the measures described above.
IFC will evaluate the project''s compliance with the applicable environmental and social requirements during the lifetime of the project by reviewing the annual monitoring reports (AMRs) prepared by the project and conducting periodic site supervision visits.
The is from the InfoShop.
Host country location of environmental documentsOffices of EMPORT in San Antonio
Date SPI sent to InfoShop April 6, 2000
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s 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).
Sponsor / Cost / Location
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