Sepetiba Tecon SA Summary Of Project Information (SPI)    Project NameBrazil - Sepetiba    RegionLatin America and the Caribbean   Sector   Project No9944   Projected Board DateMay 18, 2000   Company NameSepetiba Terminal de Contêineres S.A.(S.T.)   Technical Partner and/or Major Shareholders    Shareholders of the project are Companhia Vale do Rio Doce (CVRD) (50%) and Companhia Siderúrgica Nacional (CSN) (50%). CVRD is a Brazilian conglomerate involved primarily in mineral extraction and processing and transportation, in fiscal year 1999, CVRD reported revenues of US$4.1 billion. CSN is a Brazilian conglomerate involved primarily in steelmaking with reported gross revenues of US$2.0 billion. The project has technical assistance from Eurogate, a major European port operator, which has an option to buy up to 10% of the equity in S.T.    Project Cost Including proposed IFC investment    The total project cost through 2005 is US$134 million. IFCs proposed investment would include equity of up to US$5.0 million; up to US$ 30 million of loan for IFCs own account; and up to US$ 20 million for the account of participants. The project investments and proposed IFC loan financing would be phased according to demand.      Location of project and Description of site    The project is located in the Bay of Sepetiba, Rio de Janeiro State, Brazil. The site is a container and general cargo terminal with an area of 400,000 square meters and three births totaling 810 meters in length.     Description of Company and Purpose of Project    The project is to complete an existing container and steel products terminal located between the ports of Rio de Janeiro and Santos in the State of Rio de Janeiro.  The previously unused terminal will be operated under a 25-year lease awarded in 1998 as a result of a public tender by the Port Authority of Rio de Janeiro. The project ultimately comprises the purchase of up to seven cranes, conversion of an existing dolphin berth to straight quay, rail connection, and construction of buildings.  Annual capacity of 140,000 container moves and 500,000 tonnes of steel cargo is expected by the end of 2001, increasing to about 350,000 container moves and 720,000 tonnes of steel cargo by the end of 2005.  Total project costs are estimated to be US$134 million through 2005.    The Sepetiba Container terminal project is part of the Governments Avança Brasil program 2000-03 designed to help reduce the Custo Brasil.  The project is expected to play an important catalytic role in reduction of port handling costs in South East Brazil, helping to improve the competitiveness of Brazils private sector.   	The project is consistent with the Bank Groups objectives for Brazil, which has historically emphasized the need for improving infrastructure in support of increasing economic growth and reducing the cost of capital. This being a green field project it would be difficult to draw private sector investment with the long-term maturities required without IFCs participation.     Environmental Category and Issues    	This a category B project according to IFCs environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria.  The potential environmental, safety and health and social issues associated with the project are: site contamination from past uses; nearby environmentally-protected areas; dredging; stormwater management; sewage treatment oil/hazardous materials storage and handling; hazardous cargo management; solid and liquid waste management; fire prevention and emergency response; employee health and safety and training programs; and EHS organization and management.   The company has presented plans to address these impacts to ensure that the proposed project will, upon implementation of the specific measures listed in the Environmental Action Plan,       comply with applicable Brazilian laws and regulations and World Bank/IFC requirements.   IFC will evaluate the project''s compliance with the applicable environmental requirements during the lifetime of the project by reviewing the annual monitoring reports (AMRs) prepared the project and conducting periodic site supervision visits.     The  is  from the InfoShop.   Host country location of environmental documentsAn ERS (translated to portuguese)is available at Fundação Estadual do Meio Ambiente do Rio de Janeiro,   Rua Fonseca Telles, no. 121, 15th Floor,   20940 200 São Cristovão,   Rio de Janeiro,   Brazil    Date SPI sent to InfoShop April 18, 2000    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).