CARIBBEAN ISPAT LTD - 2 -    SUMMARY OF PROJECT INFORMATION (SPI)     Project name	Trinidad & Tobago - Caribbean Ispat Limited    Region	Latin America and Caribbean    Sector	Manufacturing    Project No.	004653    Projected Board Date	June 19, 1995    Company Name	Caribbean Ispat Limited    Technical Partner and/or Major Shareholders    Mr. L. N. Mittal, representative of the Mittal family, through Seolak Investment Ltd. (British Virgin Islands) 100%.    Project Cost Including proposed IFC investment    US$147.4 million, of which IFCs investment is US$27.3 million.    Location of project and Description of Site    Point Lisas Industrial Estate, Trinidad and Tobago,    West Indies.    Description of Company and Purpose of Project    The Project is the first integrated steel producing company in Trinidad & Tobago and consists of the production and environmental upgrade of the Caribbean Ispat Limited steel making facility that was purchased from the Government of the Republic of Trinidad and Tobago on December 30, 1994.  The plant is integrated, comprising gas based direct reduction iron (DRI) 840,000 mty, an electric arc furnace (EAF) type steel melt shop of 600,000 mty, a wire rod mill of 420,000 mty and ancillary facilities.  The production upgrade would increase output of the facility to 1,168,000 mty of DRI, 1,000,000 mty of billets and 734,000 mty of wire rods as well as result in net efficiency and throughput savings of about $24/mt on the wire rods.    Environmental Category and Issues    This is a category B project according to IFCs environmental review procedure.  Environmental andoccupational and health issues associated with this project include air  emission control, solid waste management, wastewater management and use of effluent for irrigation, resource recovery, general employee health and safety and environmental monitoring and reporting program.  CIL will improve emission control by investing in increased fan capacities, introduction of scrubbers, upgrade or replace missing equipment, install primary and secondary emissions control systems and introduce disposal of the pelletized electric arc furnace dust.  The improvements will bring the air emissions from CIL in compliance with World Bank guidelines.  A dedicated landfill will be introduced to avoid dust  emission from dried sludge disposal.  CIL will improve the quality of wastewater and run-off water.  The improvements will bring the effluent water from CIL in compliance with local requirements and World Bank guidelines.  The effluent will be used for irrigation in greenbelt development within the plant      boundary.  A secondary screening system will be installed to recover and recycle oxide dust from the direct reduction plant.  The project improvements will significantly improve the occupational health and safety at the plant.  Finally, CIL will implement an environmental monitoring and reporting and program to verify ongoing compliance with applicable environmental standards.  IFC will ensure ongoing compliance with World Bank guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by Caribbean Ispat Ltd. and by conducting periodic supervision.    The Environmental Review Summary is available from the Public Information Center on or about  May  20, 1995.    Host country location(s) of environmental documents:  Iscott Complex, P.O. Box 476, Point Lisas, Couva, Trinidad & Tobago    Date SPI sent to PIC	May 19, 1995    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).