11720 - Inversionistas en Autotransportes Mexicanos S.A. de C.V.

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Summary of Proposed Investment

Project Number

11720

Company Name

Desarrollo Terrestre Mexicano, S.A. de C.V.

Date SPI Disclosed

Dec 17, 2003

Country

Mexico

Industry

Infrastructure

Projected Board Date

Jan 19, 2003

Status

Completed

Sector

Transit and Ground Passenger Transporation

Department

Regional Industry INF LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Mar 22, 2004
Signed : May 13, 2004
Invested : Feb 11, 2005

Project Description

Inversionistas en Autotransportes Mexicanos S.A. de C.V. (IAMSA), Grupo Toluca, Flecha Amarilla, and Omnibus de Mexico S.A. de C.V. (collectively, the Group or the company) is a bus transportation conglomorate in Mexico. The Group accounts for almost 20% of the intercity bus fleet in Mexico. The project comprises the 2002-2005 fleet renovation program of the Group, with IAMSA coordinating the fleet acquisition plans.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	37.0
Equity

Development Impact

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social 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/social information submitted by the project sponsor. The following potential environment, health and safety and social impacts of the projects were analyzed:

- environmental performance of existing IAMSA operations;
- vehicle maintenance programs and wastes management;
- driver and employee training and health and safety;
- vehicle (new and existing) emissions and energy efficiency; and
- environmental benefits from the renewal program.
Location of environmental documents In locally affected community
Location of environmental documents in locally affected community
The environmental documentation will be provided at the following location:
IAMSA’s administrative office:
Insurgentes Norte 42-3, Santa María La Ribera, C.P. 06400
Del. Cuauhtémoc, México , D.F.

Bus transport is the dominant mode of public transportation in Mexico, accounting in 2002 for over 90% of total passenger transport, and IAMSA is one of the country’s largest intercity bus operators. This project is expected to have a number of significant impacts, including:

- improving the Group’s fuel efficiency by an estimated 10%, which would translate into annual fuel cost savings of approximately $14.1 million as well as a reduction in emissions,
- reducing operating and maintenance costs,
- improving safety and service quality for its customers, and
- enabling the Group to cater to customer preferences to retain market share and meet growing demand. In addition, given that 45% of the buses to be acquired under the 2002-2005 program will be for the economy segment, improvements in safety and service quality will directly benefit the poorer customers that travel this class of service.

Contacts

For Inquiries About the Project, Contact

Lic. Rodrigo Barreda Zapien
Gerente Jurídico Corporativo
Inversionistas en Autotransportes Mexicanos S.A. de C.V.
Insurgentes Norte 42-3, Santa María La Ribera, C.P. 06400
Del. Cuauhtémoc, México , D.F.

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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