Santa Marta International Terminal Company, S.A.

completed

The Project involves the refurbishment and operation by Santa Marta International Terminal Company, S.A. (“SMITCO”) of a container terminal inside the Port of Santa Marta, which is located on the Caribbean coast and is Colombia’s third largest port. The Project includes (i) the refurbishment of 2 berths with a combined total length of 322 meters; (ii) the installation of two Post-Panamax Ship-to-Shore cranes, four Rubber Tired Gantries cranes, and other terminal handing equipment to complement an existing mobile harbor crane; and (iii) the demolition of existing buildings and expansion of the container yard from 4 hectares to 8 hectares. Upon completion, the terminal’s container handling capacity will increase from 120,000 twenty foot equivalent container units (“TEUs”) to 300,000 TEUs. SMITCO is 51% owned by SPRSM and 49% owned by Carrix, Inc. (“Carrix”) subsidiary SSA Holdings International Colombia, Inc. (“SSA”). Within the existing Port, SPRSM provides cargo handling services and operates its grain and coal terminals through two subsidiaries, Operadora Logistica de Santa Marta S.A. (“Operlog”) and Carbosan S.A. (“Carbosan”), respectively. The Port also has a passenger terminal for cruise ships. Carrix is the world’s largest privately-held container terminal operator and cargo handling company, handling approximately 22 million TEUs per year at more than 180 locations worldwide, including 11 container terminals. IFC has a long-standing relationship with Carrix and has invested in 4 of Carrix’s terminals in the past 8 years, all of which have been compliant with IFC’s environmental and social standards.