Company name

Inmobiliaria Terrano S.A. y Servicios Andinos Aeroportuarios

Project number

PE3995A-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
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B

Country

Peru

Sector

Transport

Status

Hold

Disclosed date

09/02/2016

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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09/26/2017

Approval date

N/A

Signed date

N/A

Sponsoring entity

Andino Investment Holding

Team leader

De Narvaez, Olga Lucia

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 12,000,000

Currency

USD

Project scope and objective

Inmobiliaria Terrano S.A. (“Terrano”) and Servicios Andinos Aeroportuarios S.A. (“SAASA”), both of which are Andino Investment Holding Group (“AIH” or “AIH Group”) companies, are developing an air cargo terminal in the city of Lima, Peru, connected to the Jorge Chávez International Airport. The project is being developed on 3.4 hectares of land belonging to Terrano. The terminal is being built at a cost of US$18.9 million. The IIC will participate in financing this project with an 8-year loan of US$12 million that includes a grace period of up to 12 months. The financing will go toward finishing construction of the terminal and returning a portion of the investment made by the shareholders, who have already used their own funds to make the majority of the investment. SAASA will be in charge of operating the terminal.

Jorge Chávez International Airport (JCIA) has become one of the main airports in South America in recent years, in terms of both passengers and goods, the latter being an important focus for the country's economic development. This project seeks to complement the existing supply of cargo services and is based on the growth of the airport’s freight traffic over the last 10 years, plus AIH’s more than 40 years of experience developing transportation infrastructure projects in the country.

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

SCOPE OF THE ENVIRONMENT REVIEW

51.5 Kb

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Contact information

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EMAIL

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PHONE

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ADDRESS

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