Summary of Proposed Investment
Project Number
8916
Company Name
Anspar Beverages Ltd.
Date SPI Disclosed
May 27, 1998
Country
Kenya
Industry
Agribusiness and Forestry
Status
Completed
Sector
Soft Drink
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Sep 30, 1998
Signed : Aug 16, 1999
Invested : Dec 9, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Kenya-ANSPAR |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateJuly 2, 1998
Company NameANSPAR Ltd.
Technical Partner and/or Major Shareholders
The main sponsor is the Tanna family. The Tanna family has several business interest in Kenya, including packaging, graphic design, and real estate.
Project Cost Including proposed IFC investment
Project Cost: $9.4 million; IFC''s investment: $2.55 million, comprising $1.8 million senior loan, and 0.75 million investment in common equity.
Location of project and Description of site
The project will be located in an industrial area on a 2 ha. plot of land on the outskirts of Nairobi, near the old airport.
Description of Company and Purpose of Project
IFC is playing an important role in helping the sponsor: (1) complete the financial plan, (2) obtain management assistance through AMSCO; (3) structuring the project, and (4) attracting other equity investors. The main developmental impact of the project will be to: (1) develop positive economic links with distribution companies which will be created because of the project, (2) create 336 new jobs by year five, (3) generate much needed fiscal revenues, and (4) introduce competition in a currently monopolistic market.
Environmental Category and Issues
This is a category B project according to IFC''s environmental review procedure because impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical and environmental information submitted by the project sponsor, and the technical appraisal and site review completed by IFC''s Technical staff. The following potential environmental, health and safety impacts of the project were analyzed: (i) water supply and treatment; (ii) liquid effluent treatment; (iii) air emissions; (iv) solid waste disposal; (v) control of vehicle fueling and maintenance waste disposal practices; (vi) potential contamination of the bottling plant and distribution centre from present and past uses; (vii) use of CFC''s in refrigeration systems; amd (viii) workplace noise and safety.
The sponsor has presented information on how he intends to address these issues and demonstrated that the proposed project will comply with applicable governmental and World Bank requirements.
The is from the InfoShop.
| Host country location of environmental documents | ValleyView Enterprises Limited PO BOX 13410 Nairobi, Kenya |
Date SPI sent to InfoShop May 27, 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
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