Announcement of Thirty-Three Million Five Hundred Thousand US Dollars for Ecuador for Second Port of Guayaquil Project on May 13, 1976

eWorldBank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 BANK NEWS RELEASE NO. 76/51 May 13, 1976 $33.5 MILLION FOR ECUADOR FOR SECOND PORT OF GUAYAQUIL PROJECT The World Bank has approved a $33.5 million loan for a second Port of Guayaquil project in Ecuador. The project, with an estimated total cost of $83.6 million, aims to improve the institutional and operating conditions at the Port of Guayaquil and to provide additional berths and facilities to relieve the existing congestion caused by earlier than anticipated traffic growth, and to handle forecast increases in cargo traffic through the mid-1980s. The project includes the construction of three alongside deep- water berths for container and general traffic, four transit sheds, open • storage and associated facilities, and a bulk cargo terminal, comprising one alongside deep-water berth and mechanized storage and loading facili- ties for sugar, wheo~, molasses and edible oils. It also includes the relocation of the existing small boat moorings, the acquisition of cargo handling and workshop equipment, and the provision of technical assistance. The project constitutes the least-cost solution to the present need for additional berthing and cargo handling capacity at Guayaquil. The main benefits of this project are time savings in ship turn-around. cargo handling and traffic diversion. The Bank loan to Guayaquil Port Authority is with the guarantee of the Republic of Ecuador. It will be repaid over 24 years including a grace period of 4 years, and will bear interest at 8t% per annum. • Note: Money figures are expressed in U.S. dollar equivalents . Form No. 1121 (9-75) T E CHNI CAL DATA PROJECT: COUNTRY: Second Port of Guayaquil Ecuador • TOTAL COST: $83.6 million BANK FINANCING: $33.5 miliion, 24 years, including 4 years of grace at 8! percent per annum. OTHER FINANCING: Guayaquil Port Authority's own resources and Govern- ment loans BORROWER AND Guayaquil Port Authority (GPA) IMPLEMENTING ORGANIZATION: Casilla 5739 Guayaqui 1 Ecuador Cable address: APORTUARIA PROJECT DESCRIPTION: The project consists of: (a) The construction of three alongside deep-water berths for containers and general cargo traffic, four transit sheds, open storage areas and associated facilities, and • a bulk cargo terminal comprising one alongside deep-water berth and mechanized storage and loading facilities for sugar, wheat, molasses and edible oils; (b) the reloca- tion of the existing small boat moorings; (c) the acquisition of cargo handling and workshop equipment; and (d) the provision of technical assistance to (i) improve port operations, (ii) carry out a training program for shore labor, stevedores and equip- ment operators, and (iii) manage the proposed bulk terminal for two years and train GPA staff to operate and maintain it thereafter. PROCUREMENT: Contracts for civil works and for the supply and installa- tion of bulk terminal equipment and cargo handling and workshop equipment will be awarded on the basis of international competitive bidding procedures. CONSULTANTS: GPA will retain internationally recruited consultants for civil works supervision and for technical assistance under part (d) of above project. ES~IMATED COMPLETION DATE: 1979 -0- •