LATAM LOGISTIC PER PROPCO LURIN 1 S
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The LLP Peru projects consist of the construction of international standard logistic warehouse facilities in Peru. The company is part of the LatAm Logistic Properties S.R.L. group (www.latamlogisticproperties.com). These are the first international "Class A" logistic warehouses for lease in the country so far. The facilities will provide far better accessibility and less costly storage to third party logistic operators and retail parties and therewith contribute to efficiency improvements in the Peruvian supply chain.
What is our funding objective?
Better accessible, safer and more efficient warehouse operations (more m3 storage per m2) triggered by increased middle class consumer demand contributes to sustainable economic growth, as Class A development can be significantly more efficient with lower operating cost than existing properties in the local market. LLP’s properties will drive the creation of direct jobs during construction and operations, also supporting a significant number of indirect jobs through the supply chain of its tenants. The sourcing of construction inputs and related services during the subsequent development phases will foster the development of local SMEs and support local suppliers.
Why do we fund this investment?
The efficient warehouse facilities are constructed by application of the IFC’s Excellence in Design for Greater Efficiencies ("EDGE") green building standard.
What is the Environmental and Social categorization rationale?
E&S categorization based on expected E&S risks/impacts and country/regional context: B. The E&S risks are expected to be limited and manageable. Due to the location, the Project only triggers IFC PS 1, 2 and 3, and PS 4 in a limited way. The main environmental and social issues are related to the construction activities. These are expected to be managed well. LLP showed very large willingness to improve E&S risk management as necessary as defined in the agreed upon ESAP. The Company is focused to develop the Project along the Green EDGE Tool standard.
- Website customer/investment
- http://www.latamlogisticproperties.com
- Region
- Latin America & The Caribbean
- Country
- Peru
- Sector
- Financial Institutions
- Effective date
- 5/31/2017
- Total FMO financing
- USD 14.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B