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According to the bank website, the proposed investment is an IFC A loan of US$105.5 million, along with the mobilization of US$94.5 million Managed Co-Lending Portfolio Program loan and US$4 million indicative Loan Equivalent exposure for interest rate swaps to Marport. The proceeds of the proposed IFC financing will be utilized to refinance an existing bridge loan and support Marport’s investment plan to upgrade the terminal through (i) strengthening and 90m extension of berth #7; (ii) reconstruction on 150m and strengthening on 250m of berth #6 to accommodate larger vessels; (iii) demolishment of the finger jetty and unused berths #4 and #5; (iv) reclamation around 2.5 k sqm; (v) procurement of 4 STS e-cranes (“the Project”). All project activities will be conducted within Marport’s existing footprint. At the time of IFC’s review, in November 2022, the construction of 90 m extension of berth #7 was 95 percent completed by the construction contractor. Marport is in the process of contractor selection for the rest of the construction works planned to be started soon. The completion is expected to be at the end of 2024. IFC does not have previous engagement with the Marport but TIL, a leading global port operator company, is a longstanding IFC client.
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