Summary of Proposed Investment
Project Number
8618
Company Name
Arab Palestinian Storage and Cooling Co. Ltd
Date SPI Disclosed
Nov 13, 1997
Country
West Bank and Gaza
Industry
Agribusiness and Forestry
Status
Completed
Sector
Storage (Including Agricultural Products)
Department
Regional Industry MAS MCT
Environmental Category
B - Limited
Previous Events
Approved : Jul 17, 1998
Signed : Jan 26, 1999
Invested : Sep 10, 1999
Project Description
SUMMARY OF PROJECT INFORMATION
Project Name West Bank & Gaza - Cold Storage
Region Middle East
Sector Food Industry
Project No 008618
Projected Board Date December 15, 1997
Company Name Arab Palestinian Storage Company
Technical Partner and/or Major Shareholders
The Arab Palestinian Investment Company Ltd. (APIC) is a public shareholding company with an authorized capital of US$100 million and a paid-up capital of US$25 million. APIC is owned by a group of prominent Palestinian businessmen with extensive experience in Jordan and the Arab Gulf.
Project Cost Including Proposed IFC Investment
A loan of US$0.8 million and US$0.2 million in equity. The total project cost is US$4.85 million.
Location of Project and Description of Site
The project is in the city of Beit Hanoun in the Gaza Strip.
Description of Company and Purpose of Project
In the West Bank and Gaza, vegetables and fruits are produced in relatively large quantities which exceed local consumption. At the same time, local production of meat, poultry and fish are insufficient requiring imports from Israel. Therefore, proper storage methods are much needed to preserve perishable food products. The project is to establish a cold storage facility with a total area of 3,800 m2 and a capacity to store about 4,900 tons of food products. The method of storage includes both freezing and chilling at adequate temperature levels to preserve the products for long periods of time. The project would also involve trading in fruits and vegetables, mainly for resale in the off-season.
Environmental Category and Issues
This is an environmental review category B project. Environmental, occupational health, and safety issues include: site selection, acquisition, and construction; solid and liquid waste handling; ambient noise; refrigerants used in freezing and chilling systems; hazardous materials handling and storage; fire prevention and emergency response; and workplace health and safety, including training.
The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with Palestinian laws and regulations and applicable World Bank requirements. The information about how these potential impacts are addressed by the sponsor is summarized in the paragraphs that follow.
The site, which historically had been used as farm land, was acquired by the sponsor from the original land owner in a market-valued cash transaction earlier this year. There were no residences on the site; nor are there any within the immediate vicinity. The site is surrounded by farm land and other newly created parcels of land scheduled to be developed for other industrial or commercial use. The sponsor has inspected the site and confirms that there is no soil or groundwater contamination from past site uses. The ERS is available from the InfoShop.
Date SPI sent to PIC November 13, 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).
Project Name West Bank & Gaza - Cold Storage
Region Middle East
Sector Food Industry
Project No 008618
Projected Board Date December 15, 1997
Company Name Arab Palestinian Storage Company
Technical Partner and/or Major Shareholders
The Arab Palestinian Investment Company Ltd. (APIC) is a public shareholding company with an authorized capital of US$100 million and a paid-up capital of US$25 million. APIC is owned by a group of prominent Palestinian businessmen with extensive experience in Jordan and the Arab Gulf.
Project Cost Including Proposed IFC Investment
A loan of US$0.8 million and US$0.2 million in equity. The total project cost is US$4.85 million.
Location of Project and Description of Site
The project is in the city of Beit Hanoun in the Gaza Strip.
Description of Company and Purpose of Project
In the West Bank and Gaza, vegetables and fruits are produced in relatively large quantities which exceed local consumption. At the same time, local production of meat, poultry and fish are insufficient requiring imports from Israel. Therefore, proper storage methods are much needed to preserve perishable food products. The project is to establish a cold storage facility with a total area of 3,800 m2 and a capacity to store about 4,900 tons of food products. The method of storage includes both freezing and chilling at adequate temperature levels to preserve the products for long periods of time. The project would also involve trading in fruits and vegetables, mainly for resale in the off-season.
Environmental Category and Issues
This is an environmental review category B project. Environmental, occupational health, and safety issues include: site selection, acquisition, and construction; solid and liquid waste handling; ambient noise; refrigerants used in freezing and chilling systems; hazardous materials handling and storage; fire prevention and emergency response; and workplace health and safety, including training.
The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with Palestinian laws and regulations and applicable World Bank requirements. The information about how these potential impacts are addressed by the sponsor is summarized in the paragraphs that follow.
The site, which historically had been used as farm land, was acquired by the sponsor from the original land owner in a market-valued cash transaction earlier this year. There were no residences on the site; nor are there any within the immediate vicinity. The site is surrounded by farm land and other newly created parcels of land scheduled to be developed for other industrial or commercial use. The sponsor has inspected the site and confirms that there is no soil or groundwater contamination from past site uses. The ERS is available from the InfoShop.
Date SPI sent to PIC November 13, 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
Related ESRS/ERS
