AEF Musoma Fish Processors

completed

SUMMARY OF PROJECT INFORMATION (SPI)Project Name: Tanzania: Musoma Fish Processors Ltd.Region : Sub-Saharan AfricaSector: Fish ProcessingProject No: 009578Projected Board: June 30, 1999Company Name : Musoma Fish Processors Ltd.Technical Partners and/or Major ShareholdersThe shareholders of the company are two cousins: Fiaz Kurji and Karim Kurji on 50% to %50% basis. Fiaz Kurji, 40, is the Director of Finance of the Alpha Group responsible for finance and administration. Mr. Karim Kurji, 35, is the Director of Kenya and Tanzania fish operations of the group. The two directors will provide direction and marketing expertise to the project while the daily operations will be run by professional managers.Project Cost including Proposed IFC Investment Project Cost US$4.3 million IFC Loan Investment US$1.50 millionLocation of Project and Description of Site The project will be located on Block A, Plot number 93, Old Customs Road, Musoma, Tanzania. The site is relatively flat and adjacent to the shores of Lake Victoria.Description of Company and Purpose of ProjectThe project involves establishing a modern nile perch fish processing plant at Musoma, Tanzania.  The project which will primarily be producing frozen fillets will assist the group to enter into new markets and expand their product range into higher value added products.IFC Role IFC is to provide a long-term foreign currency financing and technical assistance through its consultant.  Development Impact The project has strong developmental impact as it will: a) create additional employment of about 400 workers in a rural area; and b) earn the country over US$10 million in foreign exchange.Environmental Category and Issues This is an environmental review category B project.  Key environmental health and safety issues associated with this project include sustainability of fish supply; land use; liquid and solid waste treatment and disposal; plant hygiene; water and power supply; employee health and safety training; and plant fire protection. To mitigate impacts associated with the project the sponsor will install a wastewater treatment plant; monitor fish supply stocks and cooperate with Government fish resource management projects; provide training and safety equipment to fishermen; and conduct regular plant hygiene and housekeeping inspections.  Power and water supply are from the grid.Date SPI sent to Infoshop: May 11, 1999"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) 974-4384Environmental 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).