Summary of Proposed Investment
Project Number
9896
Company Name
STRADCOM Corporation
Date SPI Disclosed
Feb 10, 2000
Country
Philippines
Industry
Infrastructure
Status
Completed
Sector
Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)
Department
Regional Industry - INF Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : Mar 28, 2000
Signed : Jul 27, 2000
Invested : Dec 26, 2001
Project Description
The principal sponsors are Strategic Alliance Development Corporation and Comfac Corporation, which own 60% and 40% respectively of Stradcom. Both sponsors are private, Philippine-based companies.
- Project Cost Including proposed IFC investment
The total project cost is $84 million. IFC''s proposed investment includes an A Loan of $10 million, a B Loan of up to $20 million and quasi-equity (C Loan) of $10 million.
- Location of project and Description of site
The project will cover the rehabilitation and computerization of the 247 Land Transportation Office (LTO) offices nationwide. The first phase of the project will cover the 31 offices of the National Capital Region and the second phase will cover the remaining 216 offices in the three main island groupings of Luzon, Visayas and Mindanao. The project will be managed out of a central facility, a four-storey building, which is being constructed within the main LTO compound in Quezon City.
- Description of Company and Purpose of Project
Stradcom is a special-purpose company, created for the concession of this project. The Philippines LTO-IT project is a BOO concession granted to Stradcom for an initial term of up to 10 years to computerize and interconnect the 247 offices of the LTO. The project aims to enhance public service by ensuring faster transaction processing for driver''s licensing and motor vehicle registrations. Other project goals include improvement of revenue collection in the LTO system, reduction of criminal activities such as car-napping and falsification of official documents, development of a database on the land transport industry and its users and provision of real-time flow of information among the different LTO offices.
- Environmental Category and Issues
This is an environmental and social review category B project. Issues include implementation of a program-wide environmental, health and safety management program, and fire and life safety compliance of company facilities. These environmental and social issues arise from construction and operation of the central office facility in Manila, the establishing of an offsite data recovery center, network connections between the Manila facility and LTO’s regional and district offices, and the installation and maintenance of computer systems in LTO offices.
Stradcom has developed and is implementing an environmental and social management plan that encompasses facilities development and operation, and employee training and health and safety programs. The company’s new central facility in Metro Manila will have utilities provided by municipal systems, and air conditioning and fire systems will be CFC-free. Stradcom has arranged for an independent fire and life safety audit of the facility and will implement its recommendations. The data recovery center is expected to be in leased space, and would be required to conform to IFC''s environmental and health and safety guidelines.
Land lines and wireless links between project facilities will be established and maintained by service providers, and Stradcom will coordinate with its service providers regarding environmental and social aspects of any new links. Stradcom’s environmental and social management plan includes provisions for control of construction forces and removal and disposal of obsolete equipment during renovation at LTO’s regional and district offices.
The company has included in its plan provisions for development of safe and healthful workplace conditions, training programs, and other support actions. The project will be providing valuable technical training to almost 2,800 LTO employees of a total of approximately 3,500.
The is from the InfoShop.
Date SPI sent to InfoShop February 10, 2000
“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
Fax: (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 Cost Including proposed IFC investment
The total project cost is $84 million. IFC''s proposed investment includes an A Loan of $10 million, a B Loan of up to $20 million and quasi-equity (C Loan) of $10 million.
- Location of project and Description of site
The project will cover the rehabilitation and computerization of the 247 Land Transportation Office (LTO) offices nationwide. The first phase of the project will cover the 31 offices of the National Capital Region and the second phase will cover the remaining 216 offices in the three main island groupings of Luzon, Visayas and Mindanao. The project will be managed out of a central facility, a four-storey building, which is being constructed within the main LTO compound in Quezon City.
- Description of Company and Purpose of Project
Stradcom is a special-purpose company, created for the concession of this project. The Philippines LTO-IT project is a BOO concession granted to Stradcom for an initial term of up to 10 years to computerize and interconnect the 247 offices of the LTO. The project aims to enhance public service by ensuring faster transaction processing for driver''s licensing and motor vehicle registrations. Other project goals include improvement of revenue collection in the LTO system, reduction of criminal activities such as car-napping and falsification of official documents, development of a database on the land transport industry and its users and provision of real-time flow of information among the different LTO offices.
- Environmental Category and Issues
This is an environmental and social review category B project. Issues include implementation of a program-wide environmental, health and safety management program, and fire and life safety compliance of company facilities. These environmental and social issues arise from construction and operation of the central office facility in Manila, the establishing of an offsite data recovery center, network connections between the Manila facility and LTO’s regional and district offices, and the installation and maintenance of computer systems in LTO offices.
Stradcom has developed and is implementing an environmental and social management plan that encompasses facilities development and operation, and employee training and health and safety programs. The company’s new central facility in Metro Manila will have utilities provided by municipal systems, and air conditioning and fire systems will be CFC-free. Stradcom has arranged for an independent fire and life safety audit of the facility and will implement its recommendations. The data recovery center is expected to be in leased space, and would be required to conform to IFC''s environmental and health and safety guidelines.
Land lines and wireless links between project facilities will be established and maintained by service providers, and Stradcom will coordinate with its service providers regarding environmental and social aspects of any new links. Stradcom’s environmental and social management plan includes provisions for control of construction forces and removal and disposal of obsolete equipment during renovation at LTO’s regional and district offices.
The company has included in its plan provisions for development of safe and healthful workplace conditions, training programs, and other support actions. The project will be providing valuable technical training to almost 2,800 LTO employees of a total of approximately 3,500.
The is from the InfoShop.
| Host country location of environmental documents | At the IFC filed office in Manila: (c/o Vipul Prakash) 11th floor, Tower One Ayala Triangle, Ayala Avenue Makati City, Philippines |
Date SPI sent to InfoShop February 10, 2000
“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
Fax: (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).
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