IIC Loan to Penta Tanks Terminal S.A. Promotes Development of Peru’s Logistics Chain and Foreign Trade
Loan of up to US$3.5 million will refinance construction and commissioning of an ethanol storage and loading terminal
Lima, Peru, May 6, 2013 — The Inter-American Investment Corporation (IIC) approved a loan of up to US$3.5 million to Penta Tanks Terminal S.A. (Penta Tanks) to refinance part of the funds used in the construction and commissioning of a specialized port terminal for receiving and dispatching liquid cargo, located 4 km from the Peruvian port of Paita.
Penta Tanks provides the Maple Etanol S.R.L. company with exclusive loading/unloading, storage, and shipping services for its ethanol exports. Maple’s daily ethanol production capacity is approximately 400,000 liters, most of which the company expects to export through Penta Tanks’ terminal facilities. The total cost of the investment is approximately US$13 million and the IIC’s exposure, up to US$3.5 million. The funds will be granted through a joint credit facility with the Corporación Interamericana para el Financiamiento de Infraestructura S.A.
“With this loan, the IIC is supporting development of Peru’s logistics chain and foreign trade. The Penta Tanks operation is essential to the chain of production and sale of ethanol to the external market,” noted Olga Lucía De Narváez, IIC senior investment officer in charge of the operation. “This project will also help improve the logistics sector by cutting ethanol export times.”
Penta Tanks is a company that develops and operates specialized terminals for receiving and dispatching liquid cargo. It belongs to Grupo Andino Investment Holding S.A., a Peruvian business group with over 40 years’ experience in the ports and logistics sector. The group consists of 16 companies specializing in three main business lines: port and airport infrastructure, maritime services, and logistics services. The group’s main companies are leaders in their respective markets.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2012, the IIC approved 73 operations totaling US$378.9 million. Throughout our history, we have approved nearly 800 direct loans to SMEs and financial intermediaries, for a total of US$4.8 billion. An additional US$2.8 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC’s activities, visit www.iic.org.
Contact: Olga Lucía De Narváez in Bogotá, Colombia
Telephone: +57 (1) 325-7052