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Slavutich brewery attracts EBRD financing
$97.2 million loan to expand production capacities, launch new products and packaging
The EBRD is providing a $97.2 million loan to OJSC “Slavutich Beer and
Non-Alcoholic Beverages Plant”, one of the largest breweries in Ukraine, owned
by Baltic Beverages Holding (BBH), a joint venture between Carlsberg and
Scottish & Newcastle. This second loan to Slavutich is a result of the long
term regional cooperation between BBH and the EBRD. The loan will be used for
further upgrades and expansion of Slavutich plants as well as the
restructuring of the balance sheet. $48.6 million of the loan amount has been
syndicated to Danske Bank.
The planned investments in Slavutich plants in Kyiv and Zaporizhzhia will lead
to an increase the total production capacity to 5.5 million hectolitres of
beer. Part of the loan will be used to introduce an innovative PET packaging,
which will significantly increase shell life of PET packaged beer. Slavutich
is also planning to expand the range of packaging of individual brands.
Gilles Mettetal, EBRD Director for Agribusiness, said the Bank is
traditionally supporting foreign investment in Ukraine’s agribusiness sector.
BBH is one of the leading international companies willing to invest in the
region and the EBRD is happy to continue its successful cooperation with BBH,
which started in 1999, he added.
“We are proud that such a well-respected institution as the EBRD trust us and
continues developing Ukraine’s economy, despite the difficult business climate
and the political instability in the country”, said BBH Ukraine Director
General Peter Chernyshov.
The European Bank for Reconstruction and Development is the biggest financial
investor in Ukraine. As of 1 January 2007 it had committed €2.87 billion
through more than 130 projects. In the agribusiness sector alone, the EBRD has
committed €4.4 billion in 315 projects across central and Eastern Europe and
the Commonwealth of Independent States.
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