Sonker Bunkering Company SAE The project involves the development of a LBT in Egypts Sokhna Port that will include: (i) 3 Gasoil tanks (total capacity of 100,000 m3), (ii) 3 LPG tanks (total capacity of 150,000 m3), (iii) an LPG pipeline (4.3 km), (iv) a Gasoil pipeline connecting to the national grid via Mina Sadat (37.5 km), and (v) related infrastructure. The LBT will also berth the first FSRU with a storage capacity of 170,000m3 rented by EGAS from Hoegh LNG (Norway) under a five year rental contract (with a plan to add another one shortly). The first FSRU has already arrived at the terminal.  The development of the LBT is part of the Basin 3 port concession that was signed between DP World Sokhna (DPWS) (a previous IFC project) and the Red Sea Port Authority (RSPA) in 2006 which was further amended and resigned in March 2015.  Sonker has secured a 25 year Supply Point Agreement (SPA) from the date of commercial operations with the Egyptian General Petroleum Corporation (EGPC), which was initially singed in 2008 and subsequently amended and signed in November 2014. (i) Strengthening of Egypt''s Port Sector: The proposed IFC investment will contribute to strengthening the Egyptian port sector by supporting the development of the first dedicated, efficiently managed, state of art LBT south of the Suez Canal. The LBT will provide efficient and lower cost import/export facilities including berthing of FSRUs to secure availability of much needed LNG and other chemical products. The project''s development impact will be substantial given Sokhna Port''s ideal location as the gateway of choice for the rapidly growing Egyptian trade to and from the Middle East and Asia. (ii) Increased Efficiency and Reduction in Transport Costs: LPG and Gasoil imports are currently handled in nearby ports on the Red Sea in a highly inefficient manner. By providing a dedicated facility with adequate equipment and storage facilities, the project will significantly improve efficiency and safety in addition to reducing transportation costs, handling and storage of LPG and Gasoil. (iii) Enhanced Availability and Improved Reliability of Energy Products: Egypt is projected to remain a net importer of LPG and Gasoil. The project will enhance the availability of LPG and Gasoil and will improve the reliability of supply particularly through availing storage capacity at the port that can help manage demand peeks. Enhanced availability of LPG is also expected to contribute to encouraging the household sector''s replacement of kerosene with LPG, which has lower CO2 emissions. (iv) Employment Generation: The project will generate additional employment in the port sector over and above temporary employment opportunities during construction. (v) Revenues to the Government of Egypt: The project will provide revenues to the Government of Egypt through the different fees that will be paid by the project company to the Red Sea Ports Authority in addition to the returns through dividends distribution in relation the government''s direct shareholding in the project company. (vi) Demonstration Effect: The project''s success will have a significant positive demonstration effect through revitalizing Egypt''s focus to promote private development of ports, expansion of storage and bunkering terminals and growing the logistics sector at large supporting the government''s plan to position Egypt as a logistics hub.