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|Business sector:||Manufacturing and Services|
|Board date:||9 Sept 2008|
|PSD disclosed:||31 Mar 2008|
The EBRD is considering a project totalling EUR 29.4 million in debt and equity financing for the construction and operation of a green field cement plant designed to produce 1.5 million tons of cement annually at a plant located about 30 km north of Tirana. The financing package would include EUR 12.6 million in equity and EUR 16.8 million in subordinated debt.
The project also includes the development of two quarries in the vicinity of the site to supply the cement plant with raw materials. The start of production is scheduled for 2010.
In addition to the EBRD financing, funding is also being provided by TITAN SA, an international cement producer, and also by the IFC
The project will be one of the largest industrial Greenfield investments in Albania. The project’s transition impact potential rests on the following two elements:
The beneficiary company is Antea Sh.A., an open joint stock company in Albania. Antea Sh.A. is majority owned by Titan Cement Company S.A.. Titan is.an international cement producer with plants operating in three continents.
EUR 12.6 million equity and EUR 16.8 million subordinated debt.
EUR 210 million.
Environmental classification and rationale
The project has been screened A/0, requiring an environmental and social impact assessment (ESIA) in line with the Bank’s Environmental Policy (2003) and Public Information Policy. The project is also subject to Albanian EIA requirements.
The Project was also classed as Category A project by the IFC in accordance to IFC’s Environmental, Health and Safety Guidelines (2007).
Information reviewed during the environmental appraisal
The following documents where received and complete the Environmental and Social due diligence of the project in line with the Bank’s Environmental Policy:
Members of the EBRD and IFC environment departments visited the site, on numerous occasions, in 2007 and actively participated in developing and finally approving the above documents and criteria.
Due diligence undertaken and outcomes
An Environmental, Social Impact Assessment was undertaken of the cement plant Project by an independent international consultant. The Project has also been subject to Albanian EIA requirements. Members of the Bank’s and IFC Environment Department visited the site as part of the due diligence, evaluated and approved the Social Impact Assessment Report.
The new cement plant will be designed in line with best international practice and appropriate environmental and social management systems are to be implemented during the construction and operation phases of the Project. The Project has also been structured to meet European Union Integrated Pollution and Prevention (“IPPC”) Directive BREF Note for Cement and Lime Manufacture and the IFC EHS Guidelines for Cement Manufacture. The project will include appropriate dust abatement and will attain a minimal NOx emission standard of 600 mg/Nm3. Given that road transport will be used for both raw material and final product delivery a road safety assessment and subsequent management system has been developed to minimize traffic related impacts.
Antea will operate the new cement plant and associated quarries in compliance with Albanian laws and regulations as well as in accordance with EU environmental standards and IFC EHS Guidelines. An environmental management system and continuous monitoring will be incorporated into day-to-day operations of the cement plant.
Disclosure of information and consultation
The Project is subject to a public consultation and a disclosure plan (PCDP) that has been developed and approved by the Bank.
Disclosed materials include:
The materials are available in hard copy at the following locations in Albania
IFC Albania office Deshmoret e 4 Shkurtit, No. 34Tirana, Albania; Telephone: (355-4) 280-650/1; Fax: (355-4) 240-590
The EIA package and Executive Summary have also been released for public review by the project sponsor on its website www.titan-cement.com and released locally in the following locations:
Monitoring and reporting
The Company will monitor the environmental impact of its operations in accordance with national law and regulations. The Bank will evaluate the project's compliance with the applicable environmental and social requirements during the lifetime of the project by reviewing annual environmental reports prepared for the project covering:
(i) ongoing performance of project-specific environmental, health and safety activities as reflected in the results of periodic and quantitative sampling and measuring programmes, and
(ii) the status of implementation of environmental mitigation and improvement measures. The Bank’s representatives will also conduct periodic site supervision visits when deemed appropriate.
The Bank will undertake monitoring of the Project, inclusive of site visits by Bank staff as well as independent audits and an additional commissioning audit once the plant has been constructed.
There is an Environmental and Social Impact Assessment available for this project.
Mr. Lefteris Garis
Durresi Street (Ex-Uzina Tirana)
BLDG “Lim-Em”, Section 4D, 1st floor
Tel: +355 423 0402
Tel: 00 355 427 4778
For Project related questions please contact:
Social Issues: Contact - Mrs Dobi Teuta. Tel 0 355 6920 90547
General questions on the Project. Contact: Mr Bylyku Adrian. Tel.: 00 355 6920 93726
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
Text of the PIP
The EBRD has established the Project Complaint Mechanism (PCM) to provide an opportunity for an independent review of complaints from one or more individuals or from organisations concerning projects financed by the Bank which are alleged to have caused, or likely to cause, harm. The Rules of Procedure governing the PCM can be found at www.ebrd.com/downloads/integrity/pcmrules.pdf, the Russian version can be accessed at http://www.ebrd.com/downloads/integrity/pcmrulesr.pdf
Any complaint under the PCM must be filed no later than 12 months after the last distribution of EBRD funds. You may contact the PCM officer (at email@example.com) or the relevant EBRD Resident Office for assistance if you are uncertain as to the period within which a complaint must be filed.
Project Summary Documents are created before consideration by the EBRD Board of Directors. Details of a project may change following disclosure of a Project Summary Document. Project Summary Documents cannot be considered to represent official EBRD policy.
Last updated 23 April 2010