Summary of Proposed Investment
Project Number
7779
Company Name
Pentire Investments Limited
Date SPI Disclosed
Feb 26, 1997
Country
Zambia
Industry
Tourism, Retail and Property
Status
Completed
Sector
Resort Hotel (Including Lodges)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Jun 11, 1997
Signed : Aug 4, 1997
Invested : Dec 8, 1997
Project Description
SUMMARY OF PROJECT INFORMATION
Project Name Zambia-Mtendere Lodge
Region Sub-Saharan Africa
Sector Tourism/Lodge
Project No 007779
Projected Board Date April 15, 1997
Company Name Pentire Investments Limited
Technical Partner and/or Major Shareholders: The Company is owned equally by Mr. Mark O''Donnell and Mrs. E. O''Donnell. Mr. O''Donnel was born in Zambia and is a successful business manager. He is currently President of Zambian Manufacturers Association.
Location of Project & Description of Site: The lodge will be built on a 1100 ha farm 35kms from Lusaka just off the main Lusaka-Ndola road. The farm is owned by Pentire Investments Limited and has been used primarily as a game ranch.
Project Cost Including Proposed IFC Investment: The project cost is estimated at US$1.41 million and IFC has been requested to provide a loan of US$565,000.
Description of Company and Purpose of Project: The Company was set up in 1990 to acquire the 1100 ha farm and has run it since as its main business. The owners now plan to build a 20 room tourist lodge with a small conference center to cater for a mixture of foreign tourists or business people passing through Lusaka and residents seeking weekend breaks and a venue for small conferences.
Expected Development Impact: Interest in Zambia for safari holidays is increasing and Zambian tourism facilities are in need of development. A lodge near Lusaka will help provide a service to foreign visitors. There will be employment for at least 60 people and a good foreign exchange earning capability.
Environmental Category and Issues: This is a category B project according to IFC’s environmental review procedure. Key environmental, health and safety issues analyzed include game stock source, game disease control, impacts on wildlife and sensitive ecosystems, staff accommodation infrastructure, liquid and solid waste disposal (including sewage), power and water supply source (including fuel storage), safety issues associated with the presence of wildlife, CFC-free cold storage, general safety and employee training, and emergency response preparedness and fire protection. The sponsor has submitted a detailed environmental management plan for the project that addresses all of these issues. In addition, an independent team of researchers from the Center for Wildlife Management at the University of Pretoria recently completed a year in residence at the project site and is preparing a detailed Game Management Plan for the project. This plan is expected to be finalized in March 1997. The ERS for the project is expected to be released to the PIC in early March as well.
Date SPI sent to PIC: February 26, 1997
For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.
L:\CAF\AEF\ZAM\PENTSPI.DOC
February 24, 1997 5:49 PM
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).
Project Name Zambia-Mtendere Lodge
Region Sub-Saharan Africa
Sector Tourism/Lodge
Project No 007779
Projected Board Date April 15, 1997
Company Name Pentire Investments Limited
Technical Partner and/or Major Shareholders: The Company is owned equally by Mr. Mark O''Donnell and Mrs. E. O''Donnell. Mr. O''Donnel was born in Zambia and is a successful business manager. He is currently President of Zambian Manufacturers Association.
Location of Project & Description of Site: The lodge will be built on a 1100 ha farm 35kms from Lusaka just off the main Lusaka-Ndola road. The farm is owned by Pentire Investments Limited and has been used primarily as a game ranch.
Project Cost Including Proposed IFC Investment: The project cost is estimated at US$1.41 million and IFC has been requested to provide a loan of US$565,000.
Description of Company and Purpose of Project: The Company was set up in 1990 to acquire the 1100 ha farm and has run it since as its main business. The owners now plan to build a 20 room tourist lodge with a small conference center to cater for a mixture of foreign tourists or business people passing through Lusaka and residents seeking weekend breaks and a venue for small conferences.
Expected Development Impact: Interest in Zambia for safari holidays is increasing and Zambian tourism facilities are in need of development. A lodge near Lusaka will help provide a service to foreign visitors. There will be employment for at least 60 people and a good foreign exchange earning capability.
Environmental Category and Issues: This is a category B project according to IFC’s environmental review procedure. Key environmental, health and safety issues analyzed include game stock source, game disease control, impacts on wildlife and sensitive ecosystems, staff accommodation infrastructure, liquid and solid waste disposal (including sewage), power and water supply source (including fuel storage), safety issues associated with the presence of wildlife, CFC-free cold storage, general safety and employee training, and emergency response preparedness and fire protection. The sponsor has submitted a detailed environmental management plan for the project that addresses all of these issues. In addition, an independent team of researchers from the Center for Wildlife Management at the University of Pretoria recently completed a year in residence at the project site and is preparing a detailed Game Management Plan for the project. This plan is expected to be finalized in March 1997. The ERS for the project is expected to be released to the PIC in early March as well.
Date SPI sent to PIC: February 26, 1997
For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.
L:\CAF\AEF\ZAM\PENTSPI.DOC
February 24, 1997 5:49 PM
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
