Company name
Suministradora de Buses K Cuatro SPA
Project number
13434-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Chile
Sector
Transport
Status
In implementation
Disclosed date
05/20/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/19/2022
Approval date
07/19/2022
Signed date
11/17/2023
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 140,000,000
Currency
USD
Project scope and objective
The project consists of the financing of the purchase, supply, and maintenance of 992 electric buses (or “E-buses”) by Suministradora de Buses K Cuatro SpA (the “SPV” or the “Company”) for use in the Red Metropolitana de Movilidad (the “RED”), Santiago’s Public transport system (the “Project”). The E-buses will operate under a 14-year bus supply contract awarded as part of the ongoing fleet renewal and expansion tender carried out by the Ministry of Transport and Telecommunications of Chile (the “MTT”).
The total Project cost is estimated at US$396 million (excluding VAT), which will be financed through a long-term structure composed of: (a) an IDB Invest senior loan for an aggregate amount of up to US$120 million and (b) parallel senior loans of up to US$183 million, which are expected to be Unidades de Fomento (“UF”)-linked loans. The rest of the Project’s costs will be funded through equity and subordinated debt contributions from the Sponsors.
The Company is owned by Inversiones Kaufmann S.A., a subsidiary of Grupo Kaufmann, and Enel X Chile, a subsidiary of Enel Chile S.A. Each currently own 50% of the Company.
This Project represents a relevant milestone in Chile’s Public transport system, since the country will have the largest E-buses urban fleet in the world outside of China.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
rcontreras@kaufmann.cl
PHONE NUMBER
227202602
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
KAUFMANN RED ELECTRIC BUSES - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
248.0 Kb
KAUFMANN RED ELECTRIC BUSES - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
88.3 Kb