AEF Tanganyika Bus Services Company Limited (II)

completed

SUMMARY OF PROJECT INFORMATION (SPI)Project name Tanzania-Tanganyika Bus Services Company Ltd.Region Sub-Saharan AfricaSector TransportationProject No. 007278Projected Approval Date May 31, 1996Company Name Tanganyika Bus Services Company Ltd.Technical Partners and/or Major Shareholders: Mr. Manjit Singh Sandhu (33%) and Mr. Jaswinder Singh Sandhu (33%), both Tanzanian nationals, are the main sponsors. Mr. Manjit Singh Sandhu is a developer and owner of several commercial and residential properties in Mwanza. He will be the project’s Managing Director.Project Cost including proposed IFC Investment Project Cost: US$ 1.0 million equivalent IFC Investment: US$ 0.5 million loanLocation of Project and Description of Site: The project is located at the Central Bus Park in the town of Mwanza, the commercial center of northwest Tanzania.Description of Company and Purpose of Project: Tanganyika Bus Service Co. Ltd., a family-owned business founded in 1948, operates a transportation network serving northwest Tanzania with Mwanza as the hub. The project will expand the transportation services offered by Tanganyika Bus Services through the acquisition of eight Isuzu 60-seater buses.Demand for transportation in Tanzania is growing following increases in population and economic growth. By providing scarce medium term funding, IFC is expected to help ease the shortage of adequate and reliable transportation services in northwest Tanzania.Environmental Categories and Issues: This is a Category B project under IFC’s environmental review procedures. Environmental, health and safety issues associated with this project include the vehicle maintenance program, disposal and recycling of used fluids and oils, oil/fuel storage and spill prevention, vehicle safety, driver training programs, and fire safety measures. Company management is committed to ensure that all safety issues and environmental programs are implemented in accordance with local government requirements and World Bank guidelines. The ERS will be in the PIC by April 20, 1996.Date SPI sent to PIC April 8, 1996For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711- facsmile:(202) 676-0365IFCSPI tangaspi.001Environmental 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).