Summary of Proposed Investment
Project Number
8302
Company Name
SOCIETE MALIENNE DE PROMOTION HOTELIERE
Date SPI Disclosed
May 15, 1997
Country
Mali
Industry
Tourism, Retail and Property
Status
Completed
Sector
City and Business Hotel
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jun 20, 1997
Signed : Sep 16, 1997
Invested : Mar 20, 1998
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Project Name Mali- Grand Hotel II
Region Sub-Saharan Africa
Sector Tourism
Project Number 008302
Projected Board Date: June 24, 1997
Company Name: Société Malienne de Promotion Hôtelière (SMPH)
Technical Partners and/or Major Shareholders: Major Shareholder - Mr. Mossadeck Bally is the main shareholder of SMPH.
Project Cost including IFC Proposed Investment: Project cost is estimated at US$5.6 million; IFC would provide a senior loan of US$1.8 million equivalent through the SEF facility.
Location of Project and Description of Site: The project is located near the business district of Bamako, on a 2 ha plot already acquired by the sponsors.
Description of Company and Purpose of Project: SMPH SA is a locally owned company, with the objective to invest in the tourism industry in Mali. Having made a highly successful investment in Grand Hotel Bamako (Mali), it plans to build a new four-star hotel to meet the increasing demand from business travelers.
IFC Role: The IFC investment would support the further growth of indigenous small and medium size companies in Mali and provide long-term financing which is difficult to obtain locally. The IFC investment is expected to contribute to hotel infrastructure development in Mali, as well as consolidate SMPH’s position in the hotel industry.
Environmental Category and Issues: This is a category B project according to IFC’s environmental review procedure. Environmental, health and safety issues considered in this project include site settings and conditions, water supply and sewage treatment or disposal, waste/garbage management and disposal, CFC-free cold storage and air conditioning, fire protection and life safety measures; and employee training and general safety. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements. The sitting of the new building will be on a 2 hectares plot of previously undeveloped land, prior site use did not involve practices that may have caused land contamination and no family or business relocation will be necessary, nor deforestation will be needed. The hotel sewage waste will be treated in an on-site plant built and operated by the sponsor. Special premises will be constructed for the storage of all solid waste and a private contractor will collect the liquid and solid waste for proper disposal in a landfill. The hotel''s air conditioning system and refrigeration facilities will not use CFC-based refrigerants in its compressors. The hotel building will meet relevant French Standards for heat and smoke detection, alarms and fire fighting. The sponsor has developed an emergency response and evacuation plan. IFC will monitor SHL’s ongoing compliance with World Bank policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by the sponsor and by conducting periodic site reviews during project supervision.
The environmental review summary is expected to be sent to the Public Information Center on May 20, 1997.
Date SPI sent to PIC: May 15, 1997
For Additional Information contact: Corporate Relations Unit -
Telephone: (202) 473-7711
Facsimile: (202) 974-4384
L:\CAF\SEF\MLI\GH2SPI.DOC
April 21, 1997 5:27 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
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