Grupo Aceros Corsa, S.A. de C.V. Summary Of Project Information (SPI)       Project Name:    MEXICO: Corsa Mini-mill              Region:    Latin America and Caribbean      Sector:   Project No:009040   Projected Board Date:March 30, 1999   Company Name:Aceros Corsa S.A. de C.V.   Technical Partner and/or Major Shareholders    	Aceros Corsa S.A. de C.V. ("Corsa") was established by Angel Cordoba Sanchez in 1956 in the northeast zone of Mexico City and is still owned by the founder and his family.  Angel Cordoba Nieto (age 56), CEO and General Director, heads up a management team of experienced professionals.    Project Cost Including proposed IFC investment    	Total project cost is estimated at US$ 33 million equivalent.  IFC is considering a total investment of US$ 16 million, including a loan of US$ 13 million and equity/quasi-equity of US$ 3 million, both for its own account.    Location of project and Description of site    	The proposed expansion project will be carried out on land (already purchased and leveled for construction) adjacent to the existing plant in Mexico City.    Description of Company and Purpose of Project    	Corsa is the leading manufacturer of steel sections and merchant bars for the Mexican market.  The Company also exports about 25% of its production, mainly to the U.S.  Corsa plans a two-stage expansion and modernization program:  a new rolling mill, followed by new steel melting and casting facilities.  The proposed project is the first stage of Corsa''s expansion/modernization program:  the installation of a new up-to-date continuous rolling mill.  The timing of the second stage (new steel melting and casting facilities) is contingent on the worldwide outlook for steel demand and prices.  Corsa is a medium-size, family owned Mexican company which does not have access to longer-term financing.  By providing a long-term debt financing package with adequate terms, IFC would play a role as an agent of change in enabling the Company''s future growth and facilitating its goal to become a publicly listed company.  IFC has also been actively involved in designing the project according to current market conditions and ensuring environmental awareness in bringing the plant to World Bank standards.    Environmental Category and Issues    	This is a Category B project according to IFC''s environmental review procedure.  Environmental issues associated with the Project include:  direct and fugitive air emissions, liquid effluent treatment/disposal, as well as slag and ash handling/disposal.  Health and safety issues include employee exposure to dust, molten metal and noise. The furnaces and boilers will be controlled to ensure air emissions compliance with the  guidelines.  Most of the process water is recirculated into the process and the industrial and hazardous wastes are either recirculated or sold to authorized treatment and/or disposal companies.  Occupational health and safety programs will be implemented and the employees will be trained in these areas.  Corsa will submit to IFC annual monitoring reports to demonstrate ongoing environmental compliance during the life of the project. The proposed Project is being designed to meet Government of Mexico requirements and World Bank guidelines.    The  is  from the Public Information Center.       Host country location of environmental documents:    IFC Offices in Mexico      Date SPI sent to PIC:February 16, 1999   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).