VLP Dry Port

completed

The project involves the financing of development, construction and equipment costs of a dry port in Vientiane, Laos (the “Project”). The Project is being developed by Sitthi Logistic Lao Co. Ltd. (“Sitthi Logistics” or “Sponsor”), part of the Phongsavanh Group, a diversified Laotian business conglomerate. In July 2020, the government of Lao awarded a 50-year concession to Vientiane Logistics Park Co. Ltd (“VLP”), a special purpose subsidiary established by the Sponsor to develop an integrated logistics park in Vientiane, which includes development of a brownfield dry port and a multi-service logistics park. IFC's financing will be used for financing of the dry port only through Thanaleng Dry Port Sole Co. Ltd (“Project Company”), a subsidiary of VLP. The Project has been partially operational since December 2021 and is expected to be fully operational by second quarter of 2022.Once fully operational, the Project is expected to offer access to advanced logistics services including multimodality, trans-shipment and value-added services with potential cost and time savings. IFC is the mandated lead arranger for the entire debt package and also will invest quasi equity in the Project Company.