Company name
Autovías Cinco SA
Project number
12988-01
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
Uruguay
Sector
Transport
Status
In implementation
Disclosed date
08/07/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/02/2021
Approval date
02/02/2021
Signed date
12/23/2021
Sponsoring entity
Coalvi Renovables SL, Ramon C. Alvarez SA, Aldesa Construcciones SA
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 22,000,000
Financing amount
USD $ 44,000,000
Currency
USD
Project scope and objective
The “Circuito 5” Project is located in the interior of the Eastern Republic of Uruguay, spanning part of the departments of Florida, Lavalleja, and Rocha. The Ministry of Transportation and Public Works (MTOP) has granted a 20-year concession for the design, construction, operation, and financing of the road infrastructure of Routes 14 and 15 to concessionaire Autovías Cinco SA, consisting of the firms Aldesa Construcciones SA, Coalvi Renovables SL, and Ramón C. Alvarez S.A. The maximum term of execution of the works is 36 months (not including lighting, pedestrian shelters, bicycle lanes and side roads) from the signing of the Certificate of Possession.
For the sections of Route 14 going from Sarandí del Yí to the town of Lascano, a new road will be built with a new design that improves on the standard of the current road. For the section of Route 14 that goes from Varela to Lascano, the plan is to raise the roadbed from where it sits currently so as to prevent the flooding caused frequently by the swelling of the Cebollatí River, flooding that blocks the passage of vehicles and pedestrians. These infrastructure improvements will help reduce the cost of vehicle operations in terms of travel time and risk of accidents, especially at intersections and junctions, where crashes have been frequent in recent years.
IDB Group’s participation in the project will consist of an A Loan of up to US$65 million provided by IDB Invest. The financing plan will be supplemented by the sponsor’s own capital, as well as cofinancing from a local bank, which will provide resources in local currency in the amounts required to complete the financial plan.
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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
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
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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
46.5 Kb
CIRCUITO 5 - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
300.0 Kb
CIRCUITO 5 - ENVIRONMENTAL AND SOCIAL ACTIO PLAN (ESAP)
189.0 Kb