📋 Tender Overview
Project Number: 49315
Company Name: LOS CIPRESES S.A.
Date ESRS Disclosed: Apr 3, 2024
Country: Uruguay
Region: South America
Environmental Category: B
Status: Pending Approval
Department: Regional Industry INF LAC & EUR
Project Description
Los Cipreses S.A. (the Company or Buquebus ), is a Uruguayan passenger and vehicle river transport company operating between Uruguay and Argentina under the Buquebus commercial name. IFC’s proposed financing entails a corporate secured transaction via an up to US$67 million partial credit guarantee for a 10-year loan from Banco Santander (Uruguay), S.A. to finance the US$170 million acquisition of a passenger electric ferry ( e-ferry ) (the Project ). The e-ferry will operate between Buenos Aires, (Argentina) and Colonia, (Uruguay), with a capacity of 2,100 passengers. It will replace an existing diesel-powered vessel within the company’s fleet. Buquebus will also fund and manage the construction of an underground 8 km transmission line (considered an Associated Facility (AF) under IFC’s Performance Standards) to connect to the Colonia ferry terminal, which once built, will be operated by the national electricity company (UTE). In Buenos Aires, the local electricity company (EDESUR) will provide a new connection to the ferry terminal, (approx. 600 meters of new underground transmission cable, also an AF). Buquebus operates the terminal in Buenos Aires under a concession, while in Colonia, the terminal is operated by the port authority (AGP). The e-ferry is expected to begin operations in the second half of 2025.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
