Summary of Proposed Investment
Project Number
7243
Company Name
Ferrocarril del Pacifico S.A.
Date SPI Disclosed
Apr 12, 1996
Country
Chile
Industry
Infrastructure
Status
Completed
Sector
Rail Transportation
Department
Regional Industry INF LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Jun 25, 1996
Signed : Jun 27, 1997
Invested : Nov 13, 1997
Project Description
REVISED Summary Of Project Information (SPI)
| Project Name | Chile-Ferrocaril del Pacifico S.A. (FEPASA) |
| Region | Latin America |
| Sector |
Projected Board DateMay 30, 1996
Company NameFerrocaril del Pacifico S.A.
Technical Partner and/or Major Shareholders
FEPASA is owned by the Chilean State Railroad Company Empresa Ferrocarriles del Estado (EFE), which retains 49% of the shares, and a consortium Transportes del Pacifico S.A. (TdP) with 51%. TdP is owned by CB Transportes, a wholly owned subsidiary of Cruz Blanca S.A. of Chile (67.9%), Fondo de Inversiones Estrella Americana S.A. of Chile (29.6%), and San Pablo Bay Railway Co. of Chile (2.5%).
Project Cost Including proposed IFC investment
Estimated project cost is aproximately US$48 million, including the upgrading of track and civil infrastructure, the purchase and rehabilitation of locomotives and railcars, the installation of modern signaling and communication systems, the setting up of new offices and maintenance facilities and the retooling and purchase of spare parts for existing maintenance facilities. IFC has been asked to provide an A loan, for its own account, for up to US$14.5 million; a B loan, for the account of participants, for up to US$12 million; and a C loan (convertible subordinate) of up to US$6 million.
Location of project and Description of site
FEPASA is headquatered in Santiago, Chile. The transport system operated by FEPASA spans the central and southern regions of Chile and connects the major cities, ports and industrial and mining regions between Valparaiso and Puerto Montt.
Description of Company and Purpose of Project
FEPASA has been granted the right to operate the freight services over EFE’s network. The project is to expand FEPASA’s rolling stock and improve operational efficiency. This will enable FEPASA to offer reliable, efficient and competitively priced transportation for bulk goods and participate in the expected increase in Chilean transportation market.
Environmental Category and Issues
This is an environmental review category B project; principal issues involve air emissions, liquid effluents, spill prevention and emergency response, and employee and transportation safety. The sponsor has presented plans to address these issues and comply with applicable governmental and World Bank requirements; key actions include measures for air pollution control and wastewater treatment, and provisions for spill prevention, transportation safety and emergency response. FEPASA has established systems for Transportation Safety and Emergency Response, based on international best management practices and Chilean requirements for the transport of hazardous materials. The railroad safety program includes clear policies, employee training and management oversight.
The is from the Public Information Center.
| Date SPI sent to PIC: Revised: | April 12, 1996 April 25, 1996 |
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).
Sponsor / Cost / Location
Related ESRS/ERS
