Thilawa Port (IFC-37815)

Countries
  • Myanmar
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Feb 15, 2018
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
INTERNATIONAL BULK TERMINAL (THILAWA) COMPANY LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 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)
$ 59.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 16, 2019

Disclosed by Bank Dec 18, 2017

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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.

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
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.

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.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Capital Diamond Star Group - CDSG Parent Company -
- - - - ERM Hong Kong, Ltd. Contractor -
- - - - Green Environmental, Health, Safety & Social Consultancy Co., Ltd. Contractor -
- - - - Kamigumi Co., Ltd Client -
- - - - Mitsubishi Corporation Parent Company -

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.

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/

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