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| Summary of Project Information (SPI) |
| This Summary of Project Information is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. |
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| Project number | 11720 |
| Project name | Inversionistas en Autotransportes Mexicanos S.A. de C.V. |
| Country | Mexico |
| Sector | Transportation And Warehousing |
| Department | Infrastructure |
| Company name | Desarrollo Terrestre Mexicano, S.A. de C.V. |
| Environmental category | B |
| Date SPI disclosed | December 17, 2003 |
| Projected board date | January 19, 2003 |
| Status | Active |
| Previous Events | Invested: February 11, 2005
Signed: May 13, 2004
Approved: March 22, 2004 |
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| Description of company and purpose of project |
| Inversionistas en Autotransportes Mexicanos S.A. de C.V. (IAMSA), Grupo Toluca, Flecha Amarilla, and Omnibus de Mexico S.A. de C.V. (collectively, the Group or the company) is a bus transportation conglomorate in Mexico. The Group accounts for almost 20% of the intercity bus fleet in Mexico. The project comprises the 2002-2005 fleet renovation program of the Group, with IAMSA coordinating the fleet acquisition plans. |
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| Project sponsor and major shareholders of project company |
| IAMSA’s ownership is divided among the individual owners of the Grupo Toluca and Flecha Amarilla companies. IAMSA is owned 50% by the individual owners of Grupo Toluca and 50% by the individual owners of Flecha Amarilla. |
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| Total project cost and proposed IFC investment |
| The project comprises the acquisition of 1,985 buses mainly from Volvo and Marcopolo. The total project cost is estimated at $368 million. The proposed investment is a $19 million A loan and a $18 million stand-by facility, both for IFC’s own account. |
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| Location of project and description of site |
| The Group is one of the market leaders in the Mexican intercity bus transportation market, serving 20 (out of 32) Mexican states, in the Center and North of the country: Mexico, Michoacan, Guanajuato, Aguascalientes, San Luis Potosi, Jalisco, Colima, Queretaro, Zacatecas, Durango, Coahuila, Nuevo Leon, Tamaulipas, Chihuahua, Jalisco, Nayarit, Sinaloa, Sonora, Baja California Norte and Golfo Norte. These states comprise the most populated region of the country, accounting for 73% of the Mexican population and 80% of the country’s GDP. |
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| Project Development Impact and IFC's Role |
Bus transport is the dominant mode of public transportation in Mexico, accounting in 2002 for over 90% of total passenger transport, and IAMSA is one of the country’s largest intercity bus operators. This project is expected to have a number of significant impacts, including:
- improving the Group’s fuel efficiency by an estimated 10%, which would translate into annual fuel cost savings of approximately $14.1 million as well as a reduction in emissions,
- reducing operating and maintenance costs,
- improving safety and service quality for its customers, and
- enabling the Group to cater to customer preferences to retain market share and meet growing demand. In addition, given that 45% of the buses to be acquired under the 2002-2005 program will be for the economy segment, improvements in safety and service quality will directly benefit the poorer customers that travel this class of service. |
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| Environmental and social issues - Category B |
This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical and environmental/social information submitted by the project sponsor. The following potential environment, health and safety and social impacts of the projects were analyzed:
- environmental performance of existing IAMSA operations;
- vehicle maintenance programs and wastes management;
- driver and employee training and health and safety;
- vehicle (new and existing) emissions and energy efficiency; and
- environmental benefits from the renewal program.
To view the environmental documents for this project, click here |
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| Location of environmental documents in locally affected community |
Location of environmental documents in locally affected community
The environmental documentation will be provided at the following location:
IAMSA’s administrative office:
Insurgentes Norte 42-3, Santa María La Ribera, C.P. 06400
Del. Cuauhtémoc, México , D.F. |
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| To contact the project company, please write to: |
Lic. Rodrigo Barreda Zapien
Gerente Jurídico Corporativo
Inversionistas en Autotransportes Mexicanos S.A. de C.V.
Insurgentes Norte 42-3, Santa María La Ribera, C.P. 06400
Del. Cuauhtémoc, México , D.F. |
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