Myanmar Port

completed

Myanma Annwa Swan A Shin Group (S) Co. Ltd. (“MAS” or “the company”) is the operator of Myanmar Industrial Port (“MIP”) which commenced operations in 2003 and is a container port, located along the Yangon River in the city of Yangon, Myanmar, providing container handling and stevedoring services for international shipping lines. MIP has a draft of about 10 meters along the wharfs, and its facility and operations currently include 750 meters of quay with five berths, 102 acres of container yard area and supporting facilities, ship-to-shore (“STS”) cranes, rubber-tired gantry cranes, and mobile harbor cranes, associated yard equipment, inland container depots nearby, a dredging operation including two dredging vessels, and a trucking division comprising about 200 drivers employed by MAS. Phase 1 expansion of MIP began in 2013 and added 350 meters of quay, and modern efficient container handling equipment, to expand the operational area to the current 750m quay length. Phase 1 expansion construction is close to completion, with a staff member acting as project manager to oversee construction progress, and the final 60 meters of the quay expansion is expected to be completed in 2016.The proposed IFC financing (“the project”) will consist of an A loan of up to US$40 million, a convertible C loan of US$40 million, and mobilization of $120 million of parallel loans from other lenders. The proposed financing will go towards supporting the Phase 1 expansion construction cost, and refinancing of some of the existing short term loans held by the company to a long term loan. The planned Phase 2 expansion, which will include the development of an additional 200 meter berth extension, is not included in the project.