Messer Trinidad & Tobago Limited

completed

Summary Of Project Information (SPI)Project Name:Trinidad - Messer Trinidad & TobagoRegion:Latin America & CaribbeanSector:Project No:009223Projected Board Date:June 14, 1999Company Name:Messer Trinidad & Tobago Limited “MTTL”Technical Partner and/or Major Shareholders Messer Griesheim GmbH and Neal & Massy Holdings through its subsidiary Neal & Massy Energy Limited. Messer is a German multinational Corporation engaged in gas related industries while Neal & Massy is a Trinidadian conglomerate with trading, manufacturing, services and energy activities.Project Cost Including proposed IFC investment The estimated cost of the proposed project is US$88 million equivalent. IFC is considering an A Loan up to US$11 million, a B Loan up to US$30 million and a C Loan up to US$10 million.Location of project and Description of site The project will be located at the Point Lisas Industrial Estate in west central Trinidad. The Point Lisas Industrial Estate was originally established on reclaimed land and has 17 major industrial enterprises, including 7 ammonia urea plants, 3 methanol plants and 2 steel plants.Description of Company and Purpose of Project The Project Company, MTTL, will oversee the design, construction and operation of two air separation units and a hydrogen plant. IFC will help MTTL complete a financial package by providing scarce and competitive long term financing not readily available in Trinidad & Tobago where traditionally there has been a reliance on parent company funding for major projects. IFC will also act as a catalyst to mobilize funds from international commercial banks. The Project will help support the expanding local petrochemical and metallurgical industries by providing a stable supply of industrial gases to companies in these sectors. The Project will also improve the overall competitiveness of the industrial sector by supplying these critical inputs at competitive prices.Environmental Category and Issues This is a category B project according to IFC’s environmental review procedure. Key environmental, health and safety issues include: site location, air emissions, wastewater, solid waste handling, and employee health, safety, and training. The raw materials include air and natural gas and the air emissions are well below the World Bank guidelines. The process water is fully recirculated. There will be fire prevention measures and the employees will be duly trained. Based on the review of available information regarding potential environmental impacts and proposed mitigation measures, IFC concludes that Messer Trinidad & Tobago’s proposed project will meet World Bank environmental, health and safety policies and guidelines and host country requirements. The is from the InfoShop.Date SPI sent to InfoShop May 12, 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).