In case of the aqueduct,a 6000 m3/hour pumping station located 15 km from the city of Manta, in the province of Manabí, captures raw water from the La Esperanza dam and conveys it through a 94-km-long, 48”-diametre pipeline to El Aromo, the intended site for the future Pacific Refinery.

Until construction on the Pacific Refinery begins, all of the raw water is being delivered to the nearby cities of Manta, Montecristi and Jaramijó. The refinery’s future operations will use approximately 4000 m3/hour,and the remaining 2000 m3/hour will continue to be allocated to these three urban areas.

The province of Manabí has historically faced serious water shortage problems. These were made worse by the April 2016 earthquake that registered 7.8 on the Richter scale and caused considerable damage in Manabí and Esmeraldas. In this context, the new aqueduct’s operations can currently guarantee raw water supply for 330,000 inhabitants in Manta, Montecristi and Jaramijó, all of which are now completing construction of their respective water treatment plants. By the end of March, the aqueduct had already transported 2.9 million cubic meters of water to the three cities.

Odebrecht also completed the Pascuales-Cuencamulti-product pipeline in December. The pipeline will transport fuel in an economical, sustainable and safe way through seven provinces in Ecuador. The system is composed of two pipeline sections with a total length of approximately 215 km, five pumping stations and two terminals.

Section 1 includes a 103-km,10”-diameter pipeline, the Pascuales and El Chorrillo pumping stations and the La Troncal terminal. It has been operating since May 2016. Section 2 includes a 112-km, 8”-diameter pipeline, the La Delicia, Ducur and Charcay pumping stations, and a storage and dispatch terminal in the city of Cuenca. It has been operating since December 2016.

By the end of March 2017, the Pascuales-Cuenca multi-product pipeline had dispatched a total of almost five million barrels of gasoline with two octane ratings(“Extra” and “Super”), diesel oil and liquefied petroleum gas (LPG) to the terminals in La Troncal and Cuenca. These terminals, located in the provinces of Cañar and Azuay, respectively, have supplied more than 900 tanker trucks of fuels in their respective service regions.

During construction, both projects generated more than 4000 direct jobs, 98% of which were Ecuadorian, emphasising the use of local labour.

In 2017, Odebrecht is celebrating 30 years of operations in Ecuador.

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October 6, 2016: Allianz Group and International Finance Corporation (IFC), a member of the World Bank Group, have signed a partnership under the Managed Co-Lending Portfolio Program (MCPP). Under the agreement, Allianz intends to make an investment of $500 million which will be co-invested alongside IFC debt financing for infrastructure projects in emerging markets worldwide.

The infrastructure debt team of Allianz Global Investors has structured the transaction and will manage the fund on behalf of investors. IFC will originate, structure and administer the loans on behalf of the fund in addition to providing a first loss protection.

Allianz Global Investors has established an infrastructure debt fund that will co-invest with IFC in a portfolio of loans which IFC has granted to infrastructure projects in emerging economies and fulfill a defined set of eligibility criteria. The IFC will provide a first loss protection in order to reflect the risk/reward profile of an institutional investor. This will offer Allianz insurance entities access to Emerging Markets infrastructure loans, which have historically been funded by international development institutions, local banks and some international banks.

Allianz Global Investors has 25 offices in 18 countries. It provides global investment and research capabilities with consultative local delivery. It has more than £469 billion in AUM for individuals, families and institutions worldwide and employs more than 500 investment professionals. Its infrastructure debt team, led by Claus Fintzen, focuses on senior and stable debt investments in the essential infrastructure sector. The team currently has £8bn under management.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. In FY16, long-term investments in developing countries rose to nearly $19 billion.

Oliver Bäte, CEO of Allianz SE, says, “We work to ensure that our activities are profitable and sustainable. We create long-term value by embedding sustainability in our core business. The partnership with IFC and our co-investment in infrastructure is a perfect example how Allianz can provide thought leading investment expertise to support the economic development of emerging countries as well as serving the interest of our customers.”

“Modern infrastructure is essential for economic growth and lasting prosperity,” said IFC CEO Philippe Le Houérou. “Yet, a huge investment gap exists in this sector—totaling trillions of dollars a year in emerging markets alone. MCPP infrastructure marks a breakthrough in the search for large-scale financing solutions to the challenges of development. It is a key building block in the global effort to move from billions to trillions in development finance.”

Andreas Gruber, Allianz Group Chief Investment Officer, says, “This partnership underlines how we at Allianz can create value for our customers by combining entrepreneurial investment ideas with industry-leading implementation know-how. Together with IFC we were able to conceive a reliable investment vehicle appropriate to the very long-term perspectives of all parties involved.”

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