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SWB comercio e industria, Lda

Sector: Residential • Location: Angola

Source: International Finance Corporation (IFC)

Project
Pending

The proposed investment is expected to have limited adverse environmental and social impacts during construction and operation. Impacts are expected to primarily occur on site, with construction impacts mainly being short term and not significant. The predicted adverse impacts can be avoided or mitigated by adhering to recognized performance standards, procedures, guidelines and design criteria, a

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The project “SWB comercio e industria, Lda” is an infrastructure initiative in the Residential sector, located in Angola. Taiyo aggregates data on it from International Finance Corporation (IFC).

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Participants

Sponsoring Agency

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Company

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Status

Original status

pending

Taiyo status

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Contact

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Description

Description

The proposed investment is expected to have limited adverse environmental and social impacts during construction and operation. Impacts are expected to primarily occur on site, with construction impacts mainly being short term and not significant. The predicted adverse impacts can be avoided or mitigated by adhering to recognized performance standards, procedures, guidelines and design criteria, as described in the following sections. Accordingly, this is a Category B project as per IFC’s Environmental and Social Sustainability Policy.IFC’s project appraisal considered environmental and social management plans for the Project and gaps between these plans and IFC requirements. Corrective measures intended to close these gaps within a reasonable period of time are summarized below and in the agreed Environmental and Social Action Plan (ESAP) disclosed in this review summary. Through the implementation of these management plans the Project is expected to be designed and operated in accordance with Performance Standards objectives._x000B_Key environmental and social issues applicable for this investment are: i) design and construction of the Project in accordance with accepted building codes and standards, most notably related to life and fire safety; ii) effective implementation of the Project’s Environmental Management Plan (EMP) during construction; iii) labor and working conditions for construction workers and operational staff, including occupational health and safety; iv) energy and water efficiency of the buildings and commercial activities during operation; and v) management of wastewater and waste during operation.Land for the Project is currently being acquired through an open market process (willing buyer willing seller) under a standard Certificate of Occupancy in terms of the Angolan Constitution and Land Law 9/2004, of November 2004. The portion of the land required for the project is in the process of being acquired and transferred from Parkgest SA and there is a promissory sale contract in place for this land acquisition. Two types of land ownership exist in Luanda, namely freehold title (private land) and surface rights (Direito de Superficie). Freehold title originated from the old colonial times and pre-independence era and is mostly limited to the older parts of Angolan cities. Most new areas, such as the project site are allocated surface rights. A surface right is a lease over the land with government that allows the lessee (owner) the right to erect buildings and/or other improvements on the land (on the surface). A surface right is always issued for an initial period of 60 years and is renewable thereafter. This renewal is normally a formality and does not attract material costs. Surface rights are agreed and controlled by the Angolan National Government and not the Luanda Provincial Government. The surface right holder effectively leases the land from Government. All improvements are valued and registered in the name of the lessee (owner). Any building would therefore belong to the owner. The site current holds a supermarket which is in operation. In addition to this, the foundations of about 2-3 buildings are evident on site. Therefore no involuntary resettlement or economic displacement has occurred and PS5: Land Acquisition and Involuntary Resettlement does not apply. Approximately 60% is covered in vegetation generally 1-3 m in height.Site vegetation consists of a mix of garden trees, weeds and other plants that appear to be introduced, therefore PS6: Biodiversity Conservation and Sustainable Management of Living Resources does not apply. Given that the Certificate of Occupancy for the land was acquired on a willing buyer willing seller basis and the site was previously under long term retail development, PS7: Indigenous Peoples does not apply. Similarly, as most of the site was previously disturbed PS8: Cultural Heritage does not apply.

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Original Currency

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Original budget

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Location

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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