Thilawa Port (IFC-37815)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Yangon
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 15, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
INTERNATIONAL BULK TERMINAL (THILAWA) COMPANY LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 59.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 16, 2018

Disclosed by Bank Dec 18, 2017


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Project Description
The proposed investment is a loan to support the development and operation of a greenfield bulk terminal in the Yangon region of Myanmar (the Project or the Terminal). The Terminal will have an effective capacity of 1 million metric tons (MT) and will include a jetty (230m) and an onshore complex with 40,000 MT of silos and 20,000 MT of grain warehouses. The Terminal will be operated under a 50-year Land Lease Agreement which includes built-operate-transfer type concession terms with the Myanmar Port Authority. The Terminal will primarily serve captive demand of agri commodities of Lluvia Limited (Lluvia) in addition to third party demand. The Terminal will be built on Plot number 30 and 31 in the Thilawa Port Zone (TPZ). The approximately 8 km long TPZ is located on the eastern bank of Yangon River in the Kyauktan Township. TPZ is located roughly 16 kilometers downstream from the Yangon city port area and approximately 35 kilometers from the city by road.
Investment Description
  • International Finance Corporation (IFC)
Private Actors
The Terminal is being developed by Lluvia of Myanmar and Kamigumi Co, Ltd. (Kamigumi) of Japan who will own the Project company in the ratio of 75:25. Lluvia is a joint venture between Capital Diamond Star Group (CDSG) who owns 85% and Mitsubishi Corporation (Mitsubishi) who owns 15%. CDSG is a diversified conglomerate in Myanmar with operations spanning retail, real estate, health care, and financial services. Mitsubishi is a global integrated business enterprise, and Kamigumi is one of Japan’s largest integrated logistics companies and terminal operators.
Contact Information
Capital Diamond Star Group Shuichi Sato Chief Operating Officer Food and Retail Cluster sato.shuichi@cdsg.com.mm 4th fl, No.9 (C1), Yawmingyi Street, Dagon Township, Yangon, Myanmar www.cdsg.com.mm ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/