Haiti to build more fuel infrastructure
West Indies Energy has submitted a request to IDB Invest for US$12mn-14mn to build an additional 12.5m pier, improve jetty infrastructure to accommodate larger vessels and speed up discharge, and install two additional 4Mg (million gallon) storage tanks, according to IDB’s private sector investment arm.
IDB Invest highlights that WINECO is the largest petroleum and liquid bulk storage facility in Haiti. Storage capacity of approximately 1 Mb is spread over 20 tanks (pictured) adjacent to port facilities owned by sister company Terminal Varreux.
IDB Invest's environmental and social sustainability policy has pre-classified the project as high risk.
The multilateral said that once the environmental and social due diligence process is completed, an environmental and social review summary will be prepared.
Funds would also refinance an existing company loan with IBD Invest, whose board is expected to review the request in September.
The project disclosure comes amid reduced fuel availability in Haiti that has further worsened conditions in the country, which is considered the poorest nation in the Western Hemisphere.