Summary of Proposed Investment
Project Number
7435
Company Name
United Transport Africa (UTA)
Date SPI Disclosed
Mar 28, 1996
Country
Cameroon
Industry
other
Status
Completed
Sector
Other (Including General Freight Trucking)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : May 17, 1996
Signed : Nov 6, 1996
Invested : Dec 31, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Cameroon-United Transport Cameroon (UTC II) |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateMay 21, 1996
Company NameUnited Transport Cameroon (UTC)
Technical Partner and/or Major Shareholders
Mr. Sergio Avanzi, an Italian national, is the sponsor of the project. He owns White Eagle Holding which controls 88% of UTC’s capital.
Project Cost Including proposed IFC investment
Total project cost is estimated at US$5 million equivalent. IFC has been asked to provide a loan of US$1 million equivalent representing 20% of the total project cost.
Location of project and Description of site
UTC’s head offices are located in Douala, Cameroon, where the company owns two facilities on which it has built its offices and its repair shops. Additional facilities are located in Ngaoundere, Ngaounda, Bertoua, Yaounde, Yocodouma, and Salapoumbe.
Description of Company and Purpose of Project (include IFC role\development impact)
UTC, the main trucking company in Cameroon, owns and operates a fleet of 200 trucks and trailers. The company was established in 1978 and it transports cargo within Cameroon and to landlocked countries such as Chad and the Central African Republic. The proposed project consists of the acquisition of 68 new trucks in an effort to modernize and standardize the fleet and reduce operating costs. Project’s The project will help improve the quality and reduce the cost of services offered by UTC. UTC plays an important developmental role by providing reliable and affordable transport to key productive sectors of the economy including agriculture, industry, forestry and the distribution of petroleum products.
The proposed loan, IFC’s second to UTC, will be seen as a sign of continuing support to the Company and will facilitate the mobilizing of additional loans from local banks on better terms than could be achieved without IFC’s presence. At the request of IFC, the Company is adopting a plan for further improving its management of environmental and safety-related matters.
Environmental Category and Issues
This is an environmental review category B project. Environmental issues associated with this project include solid waste, oil/fuel storage and spill prevention, vehicle emissions and safety, and fire protection. Company management is committed to ensuring that all safety issues and environmental programs are implemented in accordance with local government requirements and World Bank guidelines.
The is from the Public Information Center.
| Date SPI sent to PIC | March 28, 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
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