InfraV - PSA BAY TERMINAL (IFC-45961)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Bangladesh
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ananda Bazar, North Halishohor
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 30, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
PSA BANGLADESH PTE. LTD.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 1, 2022

Disclosed by Bank Jan 20, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC, together with PSA International Pte Ltd (“PSAI”), they are collaborating on the co-development of a new container terminal in Ananda Bazar, North Halishohor, Bangladesh (“the Project”). The Project is being developed under a Government-to- Government Public Private Partnership approach. PSAI is currently carrying out its feasibility studies for the Project.The coastal area adjacent to Halishahar, Chattogram, Bangladesh has been identified for the establishment of the Project.         

Subject to being awarded, PSAI is expected to be the lead developer of the Project and will work together with IFC as co-developers. PSA may invite other partners as co-developers of the Project. The Project footprint will be located in the larger area of the Bay Terminal port project, under development by the Chattogram Port Authority (CPA). CPA’s broader Bay Terminal port development is not part of the Project proposed to be financed by IFC. IFC and PSAI are working together through an early stage, upstream Joint Development Agreement, under which IFC is expected to contribute up to $3.0 million to the development budget for project development expenses. This is a nationally critical project which is expected to be the first-ever private port concession in Bangladesh. It will contribute to more efficient trade flows for Bangladesh, improving Bangladesh's connectivity with the regional economy.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

PSAI was established in 1964 and is a wholly owned subsidiary of Temasek Holdings (Pte) Limited, an investment company wholly owned by Government of Singapore (GoS), headquartered in Singapore. PSA’s portfolio comprises a network of over 50 coastal, rail and inland terminals in 19 countries.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

PSA International Pte Ltd.
Lee Peng Gee
Vice President, Group Business Development
+65 62747111
PGLEE@globalpsa.com
1 Harbour Drive, #03-00 PSA Horizons, Singapore 117352
www.globalpsa.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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