ESC conducted a Portfolio Environmental Due Diligence Assessment in 2019 involving 6 fuel and LPG terminals and distribution depots and 38 retail stations across the country.
About the Project
ESC completed a multi-site due diligence program for client who intended to acquire a portfolio of 6 fuel and LPG terminals and depots and 38 retail stations located across Yangon, Mandalay and several other states across the country. The assessment was carried based on the ASTM E1527-13 Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment, an international standard adapted for use in Myanmar.
Our Approach
The assessment included desktop study and several site visits to assess the current operations to identify site sensitivity and potential areas of concern, including evidence of below ground contamination, presence of underground storage tanks, hazardous substances used/stored on-site and/or other storage areas, vehicle filling/ discharge areas/ Interceptor pits, drainage sumps and so forth, waste storage/ disposal areas, evidence of spills, leaks or waste disposal on-site and review of permits, licences and approvals from the relevant authorities.
Outcome
Recommendations were made for mitigation of potential liabilities by contractual protection and for issues which could impact transition to new ownership.