Summary of Proposed Investment
Project Number
8422
Company Name
Wuhan International Container Transshipment Company Limited
Date SPI Disclosed
Apr 28, 1998
Country
China
Industry
other
Status
Completed
Sector
Port and Harbor Operations
Department
Regional Industry - INF Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : Jun 8, 1998
Signed : May 21, 1999
Invested : Nov 9, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | China - Wuhan International Container Transshipment Company Limited (WIT) |
| Region | Asia |
| Sector |
Projected Board DateJune 19, 1998
Company NameWuhan International Container Transshipment Company Limited (WIT)
Technical Partner and/or Major Shareholders
The main shareholders of WIT are the following three entities: CIG Port Holdings Limited (CIGPHL), Wuhan Yangluo Development Company Limited (WYDC) and Wuhan Harbor Administrative Bureau (WHAB). CIGPHL is the ports subsidiary of the China Infrastructure Group (CIG). The CIG seeks to develop small infrastructure projects with partners at the municipal and provincial level. The WYDC is the commercial representative of the Wuhan Municipal Government assigned to manage the Project. The WHAB is responsible for the overall planning, management and development of all ports in the Wuhan municipality. It is expected that WIT will retain an international port operator to manage the port.
Project Cost Including proposed IFC investment
Project cost is estimated at US$24.0 million equivalent. IFC''s proposed investment in WIT consists of an equity investment of up to US$1.5 million, an IFC loan of up to US$5 million, and up to US$5 million from participants.
Location of project and Description of site
The WIT site is located approximately 25km south of the downtown center of Wuhan, Hubei Province on the northern bank of the Yantze river. The site is adjacent to the Yangluo Economic and Technological Development Zone.
Description of Company and Purpose of Project
The project consists of the construction and operation of an inland modern container port and transshipment facility. The facility is expected to have a capacity of approximately 200,000 TEUs per year. In addition to containers the facilty will also be capable of handling general cargo. The project is expected to have a significant impact on the ability of local manufacturers to move their goods to the coastal provinces and on to international markets and to facilitate the growth of the Yangluo Economic and Technological Development Zone adjacent to the site.
Environmental Category and Issues
This is an environmental review category B project. Environmental, social, health and safety issues include: land use conversion and compensation, dredging impacts, liquid effluents and storm water management, flood protection, management of solid wastes, handling of dangerous cargoes, fire and spill protection and emergency response, and employee safety and training. IFC has reviewed a preliminary Environmental Impact Assessment and Resettlement Plan for the project.
Land use conversion for the Project caused the economic dislocation of three small industries; currently there are no dwellers or economic activity on the land. The township government provided compensation to the three industries and re-employment opportunities to all the Project Affected People (PAPs). Dredging and dredged material disposal will be coordinated with the Yangtze River Channel Navigation Administration. The site is protected by a floodwall. Storm water runoff during construction and operation, sewage, ship’s bilge water, and solid wastes will be appropriately handled. Containers handled by the port will not include dangerous cargo. The company and the port operator will develop fire and spill protection and emergency response and safety and training programs, acceptable to IFC, prior to commencing construction.
The is from the Public Information Center.
| Date SPI sent to PIC | April 28, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
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
Related ESRS/ERS
