CCI SA Project Summary Of Project Information (SPI)       Project Name    Argentina: Concesiones y Construcciones de Infraestructura SA (CCI SA)        The company is active in toll road concession management, civil construction and related urbanism development.          Region    Latin America and Caribbean      Sector   Project No009239   Projected Board Date: June 24, 1999   Company NameCCI SA   Technical Partner and/or Major Shareholders    	Messrs. Nestor Alesso, Carlos Aragon, Luis Aragon, Roberto Servente, and Hector Maurizzio    Project Cost Including proposed IFC investment    	Project Cost:US$217 million   Proposed IFC Investment: US$20 million in CCI''s equity and US$20 million in subordinated, convertible, income participating loan.    Location of project and Description of site    	Concessions are located in Argentina, Uruguay, Chile and Brazil. Future projects are expected to be located in Latin America    Description of Company and Purpose of Project    	CCI is a medium-sized Argentinean company which has historically concentrated in the construction business.  Since the beginning of the 1990''s, when Argentina embarked in an ambitious economic reform and infrastructure privatization program, CCI has become substantially involved in the management and operation of private toll road concessions.  CCI has been successful in developing this business model in Argentina and in exporting it to Uruguay and Brazil. As a consequence, CCI is currently targeting toll road concession management in the Latin American region as a key area for strategic growth.      The project is expected to strengthen CCI''s capital structure and to provide it with resources to expand its activities. Currently, access to long term funding at competitive terms is very limited for medium-sized companies in this sector.  By investing in CCI''s equity, IFC would be supporting the regional transfer of valuable experience and know how by a successful and medium-sized company.  The proposed investment would further foster the development of private participation in the sector in Latin American countries that are engaging in road infrastructure privatization.  In the medium term, CCI is planning to open its capital by listing its shares in the local stock exchange; IFC''s presence as a shareholder in the Company would lend additional support to this process.      Environmental Category and Issues    	The project is an environmental and social review category A project because of its current and future likely social impacts. Key issues include environmental and social performance of existing holdings within CCIs operating companies; compliance of future projects with local requirements and World Bank policies and guidelines, implementation of corporate environmental management systems.    CCIs past approach to project implementation has been reviewed on a selected number of investments to evaluate compliance with host country requirements.  In addition, an evaluation of compliance with World Bank Group environmental and social safeguard policies and applicable guidelines was undertaken to determine the level of additional assessment and mitigation that CCI will need to apply to future projects.  Although CCI currently has in-house capacity to manage these issues, integration of social capacity and selection of external environmental consultants will be key to the successful development of the companys future pipeline of projects.     CCI will prepare an Environmental and Social Management Plan which outlines plans for capacity building, key environmental and management functions, procedures for future implementation of IFCs Environment and Social Policies, as well as internal mechanisms for monitoring compliance and reporting to be prepared by CCI. IFC has already conducted training for 13 operational staff focused on project categorization, disclosure and consultation, together with a detailed analysis of World Bank and IFC environmental and social safeguard policies and guidelines.    For future investments, CCIs environmental/social coordinator will categorize projects and consult with IFC for the first three project categorizations. On investments categorized as A projects CCI will be required to perform the full environmental assessment process required by IFCs environmental policies and guidelines for this category of project, including social review. A parallel due diligence will be performed by IFC.  CCI will inform IFC of Category B projects.  A format for the report will be prepared in consultation with CCIs social/environmental coordinator.      CCI will be required to submit a quarterly report on pipeline investments which will describe the investment, its location, the status of the investment and estimate likely social and environmental impacts.     The  is  from the InfoShop.       Host country location of environmental documents    Camara Argentina de la Construccion - Paseo Colon 823 8th floor - Buenos Aires and IFC Resident Mission - Bouchard 547 3rd floor - Buenos Aires      Date SPI sent to InfoShop May 24, 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) 473-3800    Fax: (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).