AEF Aquva Ginners Tanzania Limited

completed

SUMMARY OF PROJECT INFORMATION Country/Project Name Tanzania-Aquva Ginners Tanzania LimitedRegion Sub-Saharan AfricaSector AgricultureProject No. 007708Projected Approval Date October 30, 1996Company Name Aquva Ginners Tanzania LimitedTechnical Partner and/or Major Shareholders: The project sponsors are Aquva Agencies (75%) and Messrs. G.S. Patel and K.S. Patel (25%). Aquva Agencies is owned by a successful Patel family comprising of four cousins: R.B. Patel, K.R. Patel, J.J. Patel, and P.R. Patel. The Aquva group have diversified business interests in the manufacture and trading of industrial machinery parts and hotels. Project Cost including proposed IFC investment Project Cost: US$ 5.0 million equivalent IFC Investment: US$ 1.5 million (loan) Location of Project and Description of Site: The project’s facilities are located in Ramodi in the Mwanza region of Tanzania, a major cotton growing area.Description of Company and Purpose of Project: Aquva Ginners Ltd. is a new company that will establish a cotton ginnery that will process seed cotton into lint cotton for sale to the international market. The project will take advantage of the limited ginning capacity in the area. Apart from providing employment and earning valuable foreign exchange, the project will assist in the cotton sector’s revival, being one of the first new gins since the sector’s liberalization. The project will also provide farmers with an alternative selling channel to the parastatal gins. Environmental Category and Issues: This is a Category B project according to AEF’s environmental review procedure. Environmental, health, and safety issues associated with this project include ambient dust emissions, power supply, employee exposure to dust, heat and noise, waste disposal, provision of personal protective equipment and training, and fire protection. The sponsor is currently preparing an environmental and safety management plan. An ERS is expected to be available on September 30, 1996.Date SPI sent to PIC: September 5, 1996 For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsmile: (202) 676-0365Environmental 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).