Where the impacts of the investment may be experienced.
Location: Buenos Aires
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.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
- Inter-American Investment Corporation (IIC)
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.
Board Decision Date: 2017-10-24
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Terminal Zarate, S.A.
The holder of the loan, grant, or other investment.
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD): $ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Do you have more information on
this project, or want to get involved?
Terminal Zarate Expansion Program
IIC's SCOPE OBJECTIVE
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is considering providing a corporate financing for Terminal Zarate, S.A. (hereinafter Terminal Zarate) located in the province of Buenos Aires, Argentina. The use the proceeds will be mainly to finance an investment plan associated with the port operation, improvements to the Zarate Container Terminal as well as new capital expenditures to enable TZ to continue growing in the container business.
Terminal Zarate is a port belonging to the Grupo Murchison . It is located on the shores of the Parana de las Palmas river, in the province of Buenos Aires, Argentina, in an industrial area of the city of Zarate, 80 km northeast of the city of Buenos Aires. Terminal Zarate has been designed as a port for the transfer of containers, general goods (except for fuel and hazardous substances), and vehicles (motor vehicles, trucks, and agricultural machinery). The port premises, located some two 2 km north of the urban enter of Zarate, covers a total area of 218 hectares, has a complement of 977 employees (both its own staff and temporary staff), and has a container mobilization capacity of 210,000 TEUs/year. 
Terminal Zarate has requested financial support from the Inter-American Investment Corporation (IIC) to extend the length of the existing pier 94 meters northward (it is now 385 meters long) and to purchase a new 80-ton capacity gantry crane. Currently, the central portion of the pier is used to handle containers, while the ends are reserved for transferring vehicles. Expansion of the pier is part of the port terminal's Master Expansion Plan and will make it possible to receive two Post-Panamax ships at the same time, in addition to dividing the transfer of vehicles in general cargo operations into sectors. The time required for the construction work, estimated at 12 months, will depend in part on the methodology to be adopted. Dredging is not expected to be necessary.
According to the IIC's Environmental and Social Sustainability Policy, the project has been classified as a Category B operation, as it could produce environmental and social impacts and risks of medium significance, that can be anticipated and minimized through the application of adequate design criteria and controlled through the application of internationally recognized management practices. The environmental and social due diligence (ESDD) technical visit was conducted on June 13, 2017 by staff from the IIC Environmental, Social, and Governance Division. Prior to the visit, IIC staff reviewed the project's EIA study and the documentation on environmental, social, and health and safety management at Terminal Zarate. The IIC representative was accompanied by staff from the company's Safety, Health, and Environment and Human Resources departments.
 See http://www.grupomurchison.com.ar/
 A TEU is the load capacity of a normalizedcontainer20 feet (6.1 m) long by 8 feet (2.4 m) wide by 8.5 feet (2.6 m) high. Its capacity is 33 cubic meters.
- Inter-American Investment Corporation (IIC)
The total project cost is estimated to be approximately USD 60 million. The financial plan is expected to be composed of an IIC and IDB A-loans and a B-Loan, with an 8-year tenor, including a principal grace period.
For inquiries about this project contact email@example.com
ACCOUNTABILITY MECHANISM OF IIC
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org
. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html
(in English) or http://www.iadb.org/es/mici/mici,1752.html