Summary of Proposed Investment
Project Number
7087
Date SPI Disclosed
Dec 13, 1995
Country
China
Industry
other
Status
Completed
Sector
Utilities
Department
Gbl Infrastructure & Natural Resources
Environmental Category
B - Limited
Project Description
Summary Of Project Information (SPI)
| Project Name | CHINA: FAIRYOUNG PORTS |
| Region | Asia |
Sector
Project No007087
Projected Board DateJanuary 26, 1996
Company NameXiamen Xian Yu Quay Co. Ltd. and Nanjing Huining Wharfs Co. Ltd.
Technical Partner and/or Major Shareholders
The project sponsor is Fairyoung Holdings Limited, a diversified business group based in Hong Kong. The project includes port terminal development at two locations in China: Xiamen and Nanjing. The project in Xiamen is being developed by a 50-year joint venture between a Fairyoung port holding subsidiary (92%) and the Xiamen Port Authority (8%). The project in Nanjing is being developed by a 25-year joint venture between a Fairyoung port holding subsidiary (55%) and the Nanjing Port Authority (45%).
Project Cost Including proposed IFC investment
Estimated total aggregate project cost is US$110.0 million, including construction, equipment, contingencies and financial fees. IFC’s proposed investment would include a loan of up to US$20.0 million to the project companies and an equity investment of up to US$5.0 million to the Fairyoung’s port holding subsidiary.
Location of project and Description of site
The project includes port terminal devlopment at two locations in China: Xiamen and Nanjing. The container terminal in Xiamen is situated at Berth 12 in the Xiamen port which is located at the Southern coastal line in Fujian province. The container terminal and the mineral ore terminal in Nanjing are situated at Berths 702-710 in the Nanjing port along the Yangtze river.
Description of Company and Purpose of Project
The Xiamen project with an estimated cost of US$47 million is to establish a new container terminal with a capacity of 150,000 TEUs p.a. The Nanjing project with an estimated cost of US$63 million is to establish a new container terminal with a capacity of 250,000 TEUs p.a. and to upgrade the existing mineral ore berth to increase its capacity from 4 million to 8 million tons p.a. The port projects in Xiamen and Nanjing would help alleviate infrastructure bottlenecks in China’s port sector, which has faced growing transportation demands.
Environmental Category and Issues
This is a category B project; principal issues include: air emissions, liquid effluents, spill prevention, fire prevention and employee exposure to noise and hazardous materials. The Sponsor has presented plans to address these issues and to comply with applicable World Bank and local requirements. Key actions include upgrading the coal handling area to control dust emissions and stormwater runoff, and employee training on fire prevention and use of personal protective equipment.
The is December 22, 1995 from the Public Information Center.
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
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).
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