Comercializadora la Junta Marine Terminal

completed

Summary Of Project Information (SPI)Project NameMexico - Comercializadora La Junta Marine Terminal     RegionLatin America and CaribbeanSectorProject No007904Projected Board DateMay 15, 1997Company NameComercializadora La Junta S.A. de C.V.Technical Partner and/or Major Shareholders The shareholdings in Comercializadora La Junta S.A. are: Mr. Julio Cesar Gomez (50%), a Mexican businessman whose family has been involved in the vegetable oil business for over 60 years as controlling shareholders of Aceitera La Junta, a processor and distributor of edible oils; and Saskatchewan Wheat Pool (50%), a diversified Canadian agribusiness company engaged in a broad range of agribusiness-related activities including the operation of dry bulk marine terminals.Project Cost Including proposed IFC investment The total project cost is currently estimated to be US$24.0 million. IFC''s proposed investments include: an A Loan of up to US$4.0 million; a B Loan of up to US$7.0 million; and a subordinated C Loan of up to US$2.5 million. Location of project and Description of site The project will be located within the Port of Manzanillo, on the Pacific coast of Mexico, on a 4 hectare waterfront site alongside an existing wharf.Description of Company and Purpose of Project Comercializadora La Junta will build and operate a specialized marine terminal for handling grain, under a 20-year concession granted by the Port Authority of Manzanillo. The Project will include the construction of a grain terminal, one 1000 mtph capacity ship unloader, three 20,000 mt capacity storage domes, a “maneuver yard” containing five spur lines for holding loaded and empty rail hopper cars, and a 500 mtph capacity rail car loader. Manzanillo is especially well suited to be the point of entry for a portion of the more than 10 million mt of grains which Mexico imports each year by land and sea. The port of Manzanillo is a natural deep draft port, and is situated at the center of the most important industrial zone in the country for the processing of agricultural products, comprising the states of Jalisco, Aguas Calientes, Guanajuato, Queretaro, Michoacan, Colima and Nayarit. The project is expected to reduce the all-in cost of transport of grains which are imported into this industrial zone, thereby reducing input costs for local grain processors and poultry and pig raising operations.Environmental Category and Issues This is a category B project according to IFC’s environmental review procedure. Environmental issues associated with this project include air emissions, liquid effluents, spill prevention, solid wastes and protection of marine resources. Occupational, health and safety issues include fire prevention and emergency response, employee training, employee exposure to noise, dust and hazardous substances. An environmental and safety audit of the proposed facility will be required upon completion of the project. The is from the Public Information Center.Date SPI sent to PIC      April 10, 1997For 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).