VCT II (IFC-41434)

Countries
  • India
Where the impacts of the investment may be experienced.
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.
Borrower
VISAKHA CONTAINER TERMINAL PRIVATE 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)
$ 103.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 103.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 23, 2019

Disclosed by Bank Apr 10, 2019


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Project Description

According to IFC website, the project involves: construction of a berth (395 x 34 m); construction of a 22 x 22 m mooring dolphin; reclamation and filling (300 m x 470 m involving about 1 million  m3 of fill); construction of 562 m rock bund; construction of heavy and light duty pavement (200 m x 375 m); 476 m storm water drainage system; and buildings including gate complex, workshop, customs, diesel generator (DG) house, fuel station, fire pump room, compound wall, administrative office and labor amenities. 

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • Visakha Container Terminal Pvt Ltd -- Implementing Company

Visakha Container Terminal Private Limited (“VCTPL” or the “Company” or “Terminal”) is a joint venture between International Cargo Terminals & Infrastructure Pvt. Ltd. (formerly known as United Liner Agencies of India (Private) Limited, a J.M. Baxi Group Company) and DP World. VCTPL, since June 2003, operates an all-weather container terminal (the “Terminal 1”) located in the Outer Harbor of existing operational multi cargo port operated by Visakhapatnam Port Trust (“VPT”) on the east coast of India. VPT has in all 18 berths in the inner harbor and seven berths in the outer harbor. VCTPL’s existing container terminal is one of the seven berths in the outer harbor.

Contact Information

No contact information provided at the time of disclosure. 

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/