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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
Jingtang International Container Port Co. Ltd.
Project ID
5182
Fiscal year
2005
Status
Not Active
Guarantee holder
Dragados Servicios Portuarios y LogĂ­sticos
Investor country
Spain
Host country
China
Environmental category
A
Sector
Transportation
Gross exposure
 $6.1 million
Project type
Non-SIP
MIGA has issued a €4.8 million ($6.1 million) guarantee to Dragados Servicios Portuarios y Logísticos (Dragados) for its €5.3 million investment in Jingtang International Container Port Co., Ltd. in the People’s Rebublic of China (PRC). The guarantee is for a period of 15 years and provides coverage against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves the acquisition of two berths in the port of Jingtang. Located on the Bohai Sea, it is the main port infrastructure in Hebei Province. Dragados is the first foreign investor in the port and plans to make significant upgrades.

Jintang port’s container facilities are poorly developed and do not handle containers efficiently. Dragados plans to expand the port by investing in cranes, yard equipment, and improvements in infrastructure, which will result in increased employment and capacity. Technology will also be upgraded with new computer systems to manage throughput more efficiently.

The project is consistent with the World Bank Group’s country assistance strategy for the PRC by furthering the country’s transition to a market economy and promoting private sector participation in social and physical infrastructure services.

 
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