Lightel Servicos de Technologia da Informacao S.A. (Lightel)

completed

REVISED Summary Of Project Information (SPI)Project NameBrazil-Lightel Servicos de Tecnologia da Informacao (Lightel).A holding company established by ALGAR Group to manage the Group’s telecommunications activities in Brazil. Lightel’s largest subsidiary, Companhia de Telefones do Brasil Central (“CTBC”), is an operator of basic and cellular services in Uberlandia, Minas Gerais.RegionLatin AmericaSectorProject No004842Projected Board DateJune 11, 1996Company NameLightel Servicos de Tecnologia da Informacao S.A.Technical Partner and/or Major Shareholders ALGAR Group of Brazil (100%) which has operations in four principal activities: telecommunications, agribusiness, auto dealerships and services.Project Cost Including proposed IFC investment Project Cost: US$298.5 million IFC equity investment in Lightel: up to US$10.0 million IFC loan for CTBC: up to US$25 millionLocation of project and Description of site CTBC’s Concession Area covers approximately 2.3 million people in the states of Minas Gerais, Sao Paulo, Goias and Mato Grosso do Sul. Lightel’s other subsidiaries operate countrywide.Description of Company and Purpose of Project CTBC, Lightel’s main subsidiary, is currently the only private operator of basic and cellular services in Brazil. The Project is to expand and modernize CTBC’s networks and diversify Lightel into newly liberalized telecommunications areas as Brazil’s telecommunications sector is opened for greater private sector participation. IFC has assisted with structuring the holding company and is helping the Company in its preparation for competition and search for strategic partners. Our presence would give comfort to other potential lenders and portfolio investors.Environmental Category and Issues This is an Environmental Review Category B Project. Key issues associated with this project include right of way alignment, microwave transmission, radio towers, site selection, solid waste disposal, fire safety and employee training and safety. The Company has submitted an Environmental Management Plan which is currently under review.The is available from the Public Information Center. Date SPI sent to PIC:Revised:     November 29, 1995 May 24, 1996For 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).