AEF Conrad Plaza

completed

SUMMARY OF PROJECT INFORMATIONCountry/Project Name Uganda-Conrad Plaza Region Sub-Saharan AfricaSector ConstructionProject No. 007260 Projected Approval Date September 30, 1996Company Name Conrad Plaza Ltd.Technical Partners and/or Major Shareholders: The sponsors are Joe Roy (50%) and his wife, Daisy Roy (50%), both Ugandan nationals. The Roys’ main businesses include Dairo Air Services and the Modern Jet Service Center, which are incorporated in the U.K. and operate out of the Gatwick and Kent airports respectively. Their investments in Uganda include a cattle ranch, a supermarket, a fuel transport company, and commercial and residential property. Mentor Management, the project’s managers, will manage Conrad Plaza during and after construction.Project Cost including proposed IFC investment Project Cost: US$ 5.0 million equivalentIFC investment: US$ 1.5 million (loan)Location of Project and Description of Site: The project will be located on the southern edge of the Central Business District of Kampala. The building is adjacent to Entebbe Road, the major road leading into Kampala.Description of Company and Purpose of Project: The project involves the construction and development of a high quality office/commercial block in Kampala. The building will have a lettable space of 3,537 square meters.Despite strong economic growth, construction of new office blocks is proceeding slowly, reflecting the limited equity resources of private entrepreneurs and the scarcity of local and foreign long term financing. By providing medium term financing, IFC would increase the supply of much needed office space in Kampala.Environmental Category and Issues: This is a category B project according to IFC’s environmental review procedure. Environmental health and safety issues include sewage treatment/disposal, liquid and solid waste disposal, water and power supply, secondary containment for fuel storage, PCBs, CFC-free cold storage and air conditioning, fire safety measures, earthquake protection, and employee training and general safety. The sponsor has submitted information addressing the issues listed above. An ERS has been finalized and will be released to the PIC on August 30, 1996.Date SPI sent to PIC August 30, 1996 For additional Information contact:Corporate Relations Unit - telephone (202) 473-7711- facsmile:(202) 676-0365 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).