Summary of Proposed Investment
Project Number
8274
Company Name
Grain Bulk Handlers Limited
Date SPI Disclosed
Sep 12, 1997
Country
Kenya
Industry
Infrastructure
Status
Completed
Sector
Port and Harbor Operations
Department
Regional Industry - INF Africa
Environmental Category
B - Limited
Previous Events
Approved : Dec 24, 1997
Signed : Apr 3, 1998
Invested : Dec 4, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Kenya-Grain Bulk Handlers Ltd. (“GBHL”) |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateOctober 20, 1997
Company NameGrain Bulk Handlers Ltd. (“GBHL”)
Technical Partner and/or Major Shareholders
Grain Bulk Handlers Ltd. (“GBHL”) is 80% owned by a local entrepreneur Mr. Mohamed Jaffer, whose family has been in the real estate and trading business for over 20 years. The remaining 20% of GBHL shares are held by the Varsani family which owns and operates Mistry Jadva Parbat & Company Ltd., a major construction/engineering firm in Kenya.
The project will be managed and operated by Portia Management Services Ltd. (“PMSL”), a UK management and consulting company specializing in port grain handling operations. PMSL, a wholly-owned subsidiary of the publicly-listed Mersey Docks and Harbour Company, is also considering an equity investment in GBHL.
Project Cost Including proposed IFC investment
The estimated total project cost is US$32 million. IFC’s proposed investment would include a Senior Loan of up to US$7 million and a Subordinated Loan of up to US$3 million.
Location of project and Description of site
The project will be located on a 1.4 hectare lot adjacent to the port of Mombasa.
Description of Company and Purpose of Project
Mombasa port, situated along the East African coast, is mainly used for commercial trading to and from Kenya and Uganda. It is also a drop off point for grains from international donor aid agencies to other countries like Somalia, Rwanda, and Burundi. GBHL will build and operate the first modern bulk handling and storage facility in Mombasa for imported grains and fertilizers. The project will include the acquisition of two 300 mtph capacity ship unloaders, an enclosed twin overhead conveyor system, twenty-four 2,800 mt capacity storage grain silos, an 18,000 mt capacity fertilizer warehouse, and bagging machines. The project is expected to (i) relieve congestion in the existing port, (ii) control air pollution in the port area, and (iii) reduce spillage and pilferage losses during unloading.
Environmental Category and Issues
This is a category B project according to IFC’s environmental procedures. Environmental issues associated with this project include air emissions and dust control, liquid effluents, spill prevention for stormwater run-off, solid waste, and material handling and disposal. Occupational, health and safety issues include safety in storing grains and fertilizers, fire and explosion prevention, emergency response, employee training, and employee exposure to noise and dust. The facilities have been designed to include a dust extraction system and enclosed conveyors to minimize pollutants in the air and dust emissions that may cause explosions. Moreover, humidity inside the silos will be regulated by built-in moisture and temperature controls. GBHL will be required to submit a detailed worker safety training program for review by the IFC’s Environment department.
The is from the Public Information Center.
| Date SPI sent to PIC | September 12, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
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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