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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
Exolgan S.A.
Project ID
3679
Fiscal year
2001
Status
Not Active
Guarantee holder
Kreditanstalt fur Wiederaufbau (KfW)
Hamburger Hafen- und Lagerhaus AG
Investor country
Germany
Host country
Argentina
Environmental category
A
Sector
Services
Gross exposure
 $26.9 million
Project type
Non-SIP

MIGA issued guarantees to Hamburger Hafen- und Lagerhaus AG and to KfW, acting on behalf of a group of commercial banks, for their investment and loan to Exolgan S.A., a container terminal enterprise. The investment is covered against the risk of transfer restriction, and the loan against transfer restriction and expropriation of funds. Total MIGA gross exposure is up to $26.9 million. The project involves the construction of a logistics park—"Parque Logistico Sur"—south of Buenos Aires, which will serve as a central facility for providing logistics services to local and international import-export companies. The project encompasses four new warehouses, operational infrastructure, and an office building at the container terminal. When complete, the park will contain 110,000 square meters of warehouses, some of which will be fully automated, climate controlled, and bonded.

The project will help lower the high costs associated with providing logistics services to local and international import-export companies. Exolgan S.A., in cooperation with other companies, is expected to have a significant social impact in the economically disadvantaged neighborhoods adjacent to the project site, by improving the living and working conditions through the provision of approximately 600 new houses. The project is expected to create 160 jobs, and an additional 200 during the construction of each warehouse. An extensive training program will be implemented onsite for the positions created. As a significant portion of goods handled by Exolgan S.A. are trade transactions between MERCOSUR countries, the project is expected to support regional trade.

 
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