Corredor Sur toll Road Project Summary Of Project Information (SPI)       Project Name    Panama-Corredor Sur              Region    Latin America and the Caribbean        Sector       Project No008526   Projected Board DateJune 11, 1998   Company NameICA Panamá, S.A.   Technical Partner and/or Major Shareholders    	The project sponsor and sole shareholder of the project company is Empresa ICA Sociedad Controladora, S.A. de C.V., Mexicos leading engineering and construction group.    Project Cost Including Proposed IFC Investment    	Project Cost:			US$210 million   	Proposed IFC Investment:	A Loan: US$35 million   						B Loan: US$50 million    Location of Project and Description of Site    	The Corredor Sur project is an urban toll higway located in Panama City.  The toll road will link the financial district, located in the city centre, with the eastern sector of the city which includes Tocumen International Airport.    Description of Company and Purpose of Project    	ICA Panamá, S.A., a Panamanian-registered company, has been awarded the concession to design, construct, maintain and operate the 19.5km, four-lane, toll highway for a period of thirty years.  The project will relieve traffic congestion and create a high quality link along the east-west axis of the city.  Economic benefits will arise through reduced travel time and lower vehicle costs. IFCs participation in this project will: (i) assist the government to increase efficiency in the transportation infrastructure sector, (ii) help the sponsors to implement an important project by mobilizing long-term financing from foreign sources, and (iii) assist the government and sponsor in addressing environmental issues associated with the project.    Environmental Category and Issues    	This is a category A project under IFCs environmental review procedure.  Key environmental issues include:  resettlement, land acquisition, marine resources, secondary socioeconomic impacts; water regime maintenance; erosion and flood control; construction impacts ambient noise; air emissions; cultural property and sites; sensitive ecosystems; employee training and general worker health and safety.  The sponsor has began the resettlement process based on the plan prepared by the sponsor and submited to IFC.  The sponsor will hire an environmental specialist to implement the Environmental Management Plan and to assist the sponsor in the implementation of any additional environmental measures to ensure compliance with World Bank guidelines and policies.    The  are  from the Public Information Center.       Host country location of environmental documents    Instituto de Recursos Naturales Renovables (INRENARE)      Date SPI sent to InfoShop May 6, 1998   This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384  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).