AEF Gomba Fishing Company

completed

SUMMARY OF PROJECT INFORMATION (SPI)Project Name Gomba Fishing Industries Ltd.Region Sub-Saharan AfricaSector Agro-ProcessingProject No 009245Projected Board December 23, 1998Company Name Gomba Fishing Industries Ltd.Technical Partners and/or Major ShareholdersThe company is owned by Mr. Yusuf Karmali and his family.  Mr. Karmali is an accountant by profession with several successful business enterprises.  He has been in the fish processing business for over 12 years.Project Cost including Proposed IFC Investment Project Cost US$6.94 million IFC Loan Investment US$1.2 millionLocation of Project and Description of Site The project is located at 11/19 Nyanza Road, Jinja, Uganda - on the shores of Lake Victoria.  The site measures 3 ha, relatively flat with a gentle slope to the lake and is completely fenced.Description of Company and Purpose of ProjectGomba Fishing Industries Ltd. is a private limited liability company incorporated in Uganda on November 10, 1983.  The project involves a relocation and modernization of an existing 15 tpd fish processing plant to an adjacent plot. IFC Role IFC is to provide a long-term foreign currency financing and technical support.Development Impact The project will provide better quality products; add new technology at various levels of the plant; and create additional employment opportunities.Environmental Category and IssuesThis is an environmental review category B project.  Key environmental health and safety issues associated with this project include land use; impacts from past operations; liquid and solid waste disposal; plant hygiene; water and power supply; employee health and safety training; and plant fire protection.  Liquid waste disposal undergoes pre treatment on site and is then further treated by municipal authorities.  Processing solid waste is converted to fishmeal and sold to feed plants.  Health and hygiene inspections are conducted by Government and EU authorities and employees are provided with appropriate training. The Environmental Review Summary is expected to be available on or about November 22, 1998 from the Public Information Center.Date SPI sent to PIC November 12, 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) 473-7711facsimile: (202) 676-0365.L:\CAF\AEF\UAN\GOMBASPI.DOCNovember 11, 1998 9:51 AMEnvironmental 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).