30003 - HPC Odessa

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Summary of Proposed Investment

Project Number

30003

Company Name

CONTAINER TERMINAL ODESSA

Date SPI Disclosed

Apr 14, 2011

Country

Ukraine

Industry

Infrastructure

Projected Board Date

May 16, 2011

Status

Completed

Sector

Port and Harbor Operations

Department

Regional Industry INF LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : May 24, 2011
Signed : Sep 30, 2011
Invested : Oct 4, 2012

Project Description

HPC Ukraina (the “Company”) operates the Odessa Container Terminal (“OCT”) within the Odessa Port, the largest seaport in Ukraine and one of the Black Sea’s biggest ports. The Project is to extend the existing OCT through the construction and operation of a new, adjacent container terminal (the “Quarantine Mole Terminal”, or the “QMT”). These two terminals will have a combined capacity of 850,000 TEUs upon completion, increasing from the current capacity of 550,000 TEUs at OCT. HPC Ukraina’s portion of the QMT extension project includes: (i) land reclamation; (ii) construction of the access dam and pavement of the quay and access ways; (iii) purchase and installation of container handling and related equipment. In addition, the Company will replace equipment and conduct maintenance civil work at OCT.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	32.0
Equity

Development Impact

The Project will increase Ukraine’s competitiveness, and indirectly drive trade growth, by providing modern efficient container handling capacity with deep draft to better serve the country’s exports and imports. The Project will help reduce the cost of transportation by serving larger vessels which have lower unit costs, therefore benefitting shippers, shipping lines, and consumers alike. It will also strengthen the country’s port sector by increasing competition in the market and encouraging other terminal operators to improve the efficiency and service standards of their own terminal facilities. The Project’s success will also have a demonstration effect for encouraging private infrastructure investments in Ukraine. In addition, the increased capacity is expected to result in more fiscal revenues to Ukraine when trade recovers.

IFC will be providing long-term financing at a tenor that is unavailable in the commercial market. Moreover, IFC is leading in mobilizing parallel financing and creating a demonstration effect for long-term financing in the Ukrainian market. IFC’s involvement will ensure transparency and compliance with IFC’s social and environmental performance standards. IFC will also be supporting a global player in the port sector, HHLA, to implement its capital expenditure plan in a relatively difficult market that is in the process of bouncing back from a major economic downturn.

The project is a category B investment according to IFC’s Environmental and Social Review Procedure. The major environmental and social issues of this project are associated with construction activities and a risk of marine pollution from a terminal’s surface runoff or accidental release of hazardous substances during operation of the terminal. Application of standard construction environmental controls, mitigation measures recommended in the environmental impact assessment and specific measures agreed in the Environmental and Social Action Plan (ESAP) will ensure compliance with national and IFC''s environmental and social Performance Standards.

A summary of IFC’s environmental and social review findings for the project including the rationale for the B categorization is publicly available in the Environmental and Social Review Summary (ESRS) disclosed through IFC’s external website: http://www.ifc.org/projects

Contacts

For Inquiries About the Project, Contact

Capt. Dirk Battermann SC "HPC Ukraina" 1, Tamozhennaya Sq., 65026, Odessa, Ukraine Phone: + 38 048 729 45 50 Fax: + 38 048 729 46 56 hpc-ukraina.odessa.ua

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

Local Access of Project Documentation

Offices of SC "HPC Ukraina" 1, Tamozhennaya Sq., 65026, Odessa, Ukraine

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. 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 Policy on Disclosure of Information that went into effect April 30, 2006.

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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