Company name
Penta Tanks Terminals S.A. (“Penta Tanks”)
Project number
PE3956A-01
N/A
E&S category
N/A
Country
Peru
Sector
Transport
Status
Completed
Disclosed date
03/11/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
04/11/2013
Approval date
05/03/2013
Signed date
N/A
Sponsoring entity
Andino Investment Holding S.A. (“AIH”)
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 5,700,000
Financing amount
USD $ 7,000,000
Currency
USD
Project scope and objective
Scope and Objective of the Project and IIC’s Participation: Penta Tanks is a company that develops and operates specialized terminals for receiving and dispatching liquid cargo. The company’s first terminal is located in a dock some 4 km outside Paita. There, Penta Tanks provides ethanol loading/unloading, storage, and shipping services under an exclusive 20-year export contract with “Maple Etanol S.R.L. (“Maple Etanol”). Maple Etanol’s daily production capacity is approximately 400,000 liters, most of which Penta Tanks is expected to export through its terminal facilities.
The objective of this IIC operation is to provide financing to Penta Tanks that will enable it to refinance a portion of the funding that was advanced by the developers company’s debt, provided in advance by the sponsor for the construction and commissioning of the terminal, which began operating in June 2012. The total cost of the project, including sales tax (Impuesto General a las Ventas – IGV), is expected to be US$13,403,279. The IIC’s exposure would be up to $3,750,000, which would be provided through a joint credit facility with the Corporación Interamericana para el Financiamiento de Infraestructura S.A., totaling up to US$8 million.
The sponsor, AIH, is a Peruvian business group with over 40 years’ experience in the port and logistics industry. The group encompasses 16 companies specializing in three main business lines: port and airport infrastructure, maritime services, and logistic services. The group’s main companies have maintained leading positions in their respective markets.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
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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.
ENVIRONMENTAL AND SOCIAL REVIEW
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