SMT GUINEA TRANSHIPMENT COMPANY LTD (FMO-54823)

Countries
  • Guinea
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
SMT Shipping
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)
$ 7.50 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)
$ 7.50 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 @ FMO website

Updated in EWS Jan 11, 2019

Disclosed by Bank Oct 29, 2018


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Project Description

SMT Shipping ("SMT") is a Dutch shipping group and worldwide leader in providing full service logistics solutions in bulk and break-bulk maritime transport. For over 25 years, SMT has provided reliable handling of cargo offering multi-layered solutions for the effective handling of many types of bulk cargo and has expertise in both shore-based and vessel transport operations.

FMO will provide a long term loan of USD 7.5 million to SMT in support of their transhipment services in Guinea. A total of 4 SMT owned and operated vessels are collectively employed to transship a minimum 5.5 million tonnes of bauxite per annum for a contracted period of 10 years, a base product for aluminium production. The two custom made barges load the cargo at Cape Verga port in Bel-Air, located south of Kamsar in Guinea, and then travel to the Transhipment Vessel at the Cape Verga Anchorage located ~30km off the coast, where it will be loaded into ocean going vessels.

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

No contact information provided at the time of disclosure

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism