Bangkok Mass Transit System Public Co. Ltd. (Green Line) Equity

completed

Revised Summary Of Project Information (SPI)Project NameThailand:Bangkok Transit System (Green Line)EquityRegionAsiaSectorTransportationProject No007249Projected Board DateFebruary 1, 1996Company NameBangkok Mass Transit System Corporation LimitedTechnical Partner and/or Major Shareholders The two major shareholders in the project are Tanayong Public Company Limited (Tanayong) and Italian-Thai Corporation (Ital-Thai). Tanayong is one of the biggest real estate companies in Thailand and has diversified interests in property development, property investments and hotels. Ital-Thai is one of the largest and experienced civil contractors in Thailand and also the main civil contractor for the project. Under the terms of the concession, Tanayong is required to retain 51% of the project company until the completion of the project. Project Cost Including proposed IFC investment Project cost is estimated US$1.69 billion. IFC has already approved a US$50 million loan to the project and is proposing an equity investment of up to US$25 million.Location of project and Description of site The project is located in the Central Business District (CBD) of Bangkok primarily along Silom and Sukhumvit roads.Description of Company and Purpose of Project The Project is to construct, operate and maintain an elevated rail system in the central business district of Bangkok, consisting of two separate lines with a combined total length of approximately 23 km with 23 stations, including one line interchange station. Initially, the system will have three car trains (to be subsequently increased to six car trains). The system has been designed with the target capacity of a link flow of 50,000 passengers per direction per hour. The project is expected to raise the transit capacity of the CBD with the effect of helping to alleviate the district’s traffic, pollution, health and excess fuel consumption problems.Environmental Category and Issues This is a category A project according to IFC’s environmental review procedure because diverse and significant environmental impacts may result. The project sponsors has prepared an Environmental Assessment, including an environmental monitoring plan, which identified environmental impacts and benefits that may result. Issues associated with this project include route selection, noise, air quality, and waste management during construction, and noise, air quality, visual impacts and cultural heritage impacts. The project has received extensive coverage in the Thai media and the project company has conducted programs to educate the public about environmental and other features of this project.Host country location of environmental documents:Bangkok Mass Transit System Corp., Ltd.26/I th Fl., Sathorn City Tower175 South Sathorn Rd.,Tungmahamek, Khet SathornBangkok 10120 ThailandThe are from the Public Information Center.Date SPI sent to PIC: November 2, 1994 Revised: December 15, 1995 Revised: December 20, 1995 Revised: December 22, 1995For Additional Information Contact: Corporate Relations Unit-telephone: (202) 473-7711facsimile: (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).