24951 - Aeropuertos Dominicanos Siglo XXI, S.A.

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Summary of Proposed Investment

Project Number

24951

Company Name

Aeropuertos Dominicanos Siglo XXI SA

Date SPI Disclosed

Apr 25, 2006

Country

Dominican Republic

Industry

Infrastructure

Projected Board Date

May 30, 2006

Status

Completed

Sector

Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)

Department

Regional Industry INF LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Jun 20, 2006
Signed : Jun 26, 2006
Invested : Jul 21, 2006

Project Description

This is a follow-on investment to the Aerodom Airport project approved in 2004. Aeropuertos Dominicanos Siglo XXI, S.A. (Aerodom or the company) operates six airports in the Dominican Republic under a 30-year build-operate-transfer concession agreement. Aerodom’s airports served over 4.1 million passengers in 2005 and historically accounts for about 50% of total passenger traffic in the Dominican Republic. The project is to help Aerodom complete certain infrastructure projects designed to increase the service levels, operating efficiency, security, and commercial potential at Aerodom’s airports. Such projects include the expansion of the immigration and customs areas, the streamlining of duty free areas, and the addition of new passenger boarding bridges, x-ray equipment and air conditioning systems.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	15.0
Equity

Development Impact

The proposed project supports the Dominican Republic’s efforts to develop its tourism industry. The proposed project will complement the original Aerodom project and help increase air traffic capacity in the country, especially by relieving the current capacity constraints at the Las Américas Airport and constructing the new Samaná Airport. In addition, the new Samaná Airport is expected to spur tourism investments in the Samaná area, considered to be the “next tourist destination” in the Dominican Republic. The proposed project will also raise operating efficiency and service levels at Aerodom’s airports by improving passenger flow and security controls, and help Aerodom meet performance standards established under the concession agreement. Finally, the project’s success will encourage foreign investments and further private sector participation in airports and other infrastructure sectors such as roads and ports.

IFC will be providing long-term financing necessary for a concession-based project at a reasonable cost to local sponsors. IFC will also coordinate and streamline the negotiation and documentation processes between the Company, IFC and other potential lenders for the project.

This is a category B project and a repeat investment. Issues are essentially the same as those identified for the original investment and include: environmental, health and safety management; construction impacts; fuel/hazardous materials storage and handling, including emergency response; potable water supply; stormwater drainage and effluent discharges; solid and liquid waste management; bird hazards to aircraft; aircraft noise; and employee health and safety, including fire and life safety. IFC’s ongoing monitoring of Aerodom’s environmental and social performance and a site visit in early March 2006 confirms that the Company is meeting the requirements of the original Loan Agreement.
Location of environmental documents In locally affected community
The environmental documents will be made available at the following locations:

- Aerodom’s offices at the Las Américas International Airport
- La Isabela International Airport in Santo Domingo,
- The Gregorio Luperón International Airport in Puerto Plata;
- The Arroyo Barril International Airport in Samaná; and
- The María Montez International Airport in Barahona.

Contacts

For Inquiries About the Project, Contact

Lawrence Hazoury
Aeropuertos Dominicanos Siglo XXI, S.A.
Av. Sarasota No. 20, Torre Empresarial AIRD, Piso 10, La Julia
Santo Domingo, República Dominicana
Phone: 809-565-0103
Fax: 809-565-0561

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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