Basic information
Investment type
Loan
E&S category
B
Disclosed date
Projected board date
Approval date
Signed date
Sponsoring entity
Sociedad Concesionaria Autopista del Norte SCA y Aleatica
Team Leader
Perez, Alfonso
Financial Summary
Syndicated Amount
$ 50,000,000
Financing amount
$ 125,000,000
Financing Currency
USD
Client
information
Arturo Loo Kung, Gerente Financiero, arturo.lookung@aleatica.com
PROJECT
SCOPE
AND
OBJECTIVE
Road Network No.4 (hereinafter "the RV4") is one of the most important roads in Peru, connecting its capital, Lima, with several important cities and ports in the northern part of the country. In 2009, OHL Concesiones, now Aleatica, was awarded the concession for the road, which includes; i) the operation and maintenance of 356 km of existing road; and ii) the construction of a 283-kilometer second lane. Subsequently, by means of Addendum 2 to the Concession Agreement in 2016, it was also entrusted with the construction of a 37-kilometer long Chimbote bypass. To fulfill the objectives of the concession, Aleatica has created two companies: i) Autopista del Norte (hereinafter "AUNOR"), which is responsible for managing the construction works and serves as the concessionaire of the RV4; and ii) Operadora de Carreteras (hereinafter "OPECAR"), which is responsible for the operation and maintenance of the concession.
IDB Invest’s participation (hereinafter "the Project") will focus on providing resources for the construction of: i) the works required to complete the RV4 (Pativilca-Santa-Trujillo and Puerto Salaverry segments); and ii) the Chimbote bypass.
Environmental
and
Social
Review
IDB Invest performed its Environmental and Social Due Diligence (ESDD) visit to the Project on March 26-28, 2019. During this visit, it held meetings in Huarmey and Chimbote with representatives of AUNOR, OPECAR, the Ministry of Transport and Communications (hereinafter "the MTC"), the Acquisition, Compensation, and Involuntary Resettlement Program (hereinafter "PACRI", for its acronym in Spanish (PACRI), and with the local authorities of Nuevo Chimbote district and del Santa Province. In addition, a land tour of the entire RV4 was completed, and the layout of the future Chimbote bypass, currently in the process of land release by the PACRI, was visited. At the time of the visit, the Project presented the following situation: i) 97% progress in the twinning of the RV4 lane; and ii) in the Chimbote bypass, 21% of the land required had been acquired, 57% was in the process of being paid and 23% was in the process of being valued.
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