SEF Al-Ayyam Printing Company

completed

Summary Of Project Information (SPI)Project NameWest Bank & Gaza-Al-Ayyam ProjectRegionCentral Asia, Middle East and North AfricaSectorProject No008925Projected Board DateApril 25, 1998Company NameAl-Ayyam Press, Printing, Publishing and Distribution CompanyTechnical Partner and/or Major Shareholders Al-Ayyam Press, Printing, Publishing and Distribution Company is a private shareholding company with a paid-up capital of US$4.3 million and 17 shareholders. The Company is owned by a group of prominent Palestinian businessmen, including Mr. Sabieh Masri (40%), Mr. Akram Hanieh (15%, Mr. Bashar Masri (13%), and Cairo-Amman bank (7%).Project Cost Including proposed IFC investment IFC loan of US$1.8 million. The total project cost is US$4.85 million.Location of project and Description of site The Company''s printing operations are located in the West Bank city of Ramallah.      Description of Company and Purpose of Project The aim of the investment is to help upgrade and expand the printing capacity, as well as to refinance medium-term debt, thereby, reducing financial costs and burden of annual repayments. The project is expected to ultimately increase sales in the local and export markets.Environmental Category and Issues This is a category B project according to IFC''s environmental review procedure. Environmental, health and safety issues associated with this project include: the environmental performance of the existing operations; the storage and handling of solvents and printing inks; air emissions of volatile organic compounds; disposal of solvent and other wastes; and workplace health and safety; and employee exposure to solvents. Printing ink used in this facility is all biodegradable and no solvent-based ink is used. Film developing solutions are recycled, as is water paper. Reasonable and adequate fire prevention and general worker health and safety provisions have been incorporated in the project.The is from the Public Information Center.Host country location of environmental documentsUSADate SPI sent to PIC March 25, 1998“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).