AEF Mayo Fish S.A. SUMMARY OF PROJECT INFORMATION (SPI)      Project Name:			Mauritania-Mayo Fish    Region 			Sub-Saharan Africa    Sector 				Fishing Operations and Fish Processing    Project N  o   			007605    Projected Board Date 		June 16, 1996    Company Name 		MAYO FISH    Technical Partner/ Major Shareholders     	 Messrs.  Ahmedou Taffa and Abdoul Aziz Wane, both Mauritanian nationals, are the sponsors of the project. They have a rich experience in the fish industry and will each control 43% of the companys capital.  The remaining 14% will be owned by family members.    Project Cost Including Proposed IFC Investment    	Total project cost is estimated at US$0.73 million equivalent.  IFC has been asked to provide a venture loan of  US$0.29 million equivalent, representing 40% of total project cost.    Location of Project and Description of Site    	The fish processing plant will be located in Nouakchott, not far from the artisan fishing zone.   It will be built on land owned by the company.    Description of the Company and Purpose of the project    	The project consists of fishing operations and fish processing.  The acquisition of two small fiberglass boats, with a capacity for a weekly catch of 3 to 6 tons of fish per boat, will allow for semi-industrial fishing.  The projected annual catch of 500 tons necessary for the production of 450 tons of high value export products should be readily attainable. However, in case of shortfalls, the balance would be bought from local fishermen at going market rates.  Fish processing will take place in a small facility, with a capacity of 600 tons per annum, built under the project and responding to European Union norms.  The proposed loan will enable IFC to help local entrepreneurs become more active in a sector that  has traditionally been dominated by foreign fishermen.  IFCs investment will help establish a small but well structured indigenous company that will use labor-intensive technology to produce high quality, high value fish.  IFCs presence will also enable MAYO FISH to obtain loan funds from local banks which are usually reluctant to finance start-up companies.    	Project Development Effects : The project will have considerable developmental impact especially in terms of helping Mauritanian entrepreneurs improve their competitiveness in an industry that contributes highly to the countrys overall economy.  The project also supports the governments initiatives in developing the artisan fishing zone, which promotes semi-industrial fishing techniques having a less destructive ecological impact.  Finally the project has example value as it will help build a plant which responds to all EU norms, something that is not at the present time widely spread in Mauritania.    	Environmental Category  and Issues    	This is an environmental review category B project.  Environmental, health and safety issues associated with the project include recycling/disposal of used motor fluids and oils, fire protection, safety at sea, solid and liquid waste treatment and disposal, CFC-free storage, provision of personal protective equipment, general housekeeping and plant hygiene, and  compliance with all applicable Mauritanian maritime requirements.  The sponsors have submitted information addressing the issues listed above.  Subject to completion of review of this information, an ERS will be drafted for release to the PIC.    The Environmental Review Summary is expected to be available on or around 21 May, 1996 from the Public Information Center.    Date SPI sent to PIC			May 16, 1996    For additional information contact : Corporate Relations Unit -   Telephone : (202) 473-7711   Facsimile :  (202) 676-0365   	  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).