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Pavel Teremetsky, Operations Leader

MT Petrol Stations - Magnai Trade LLC

Project number:39825
Business sector:Natural resources
Environmental category:B
Target Board date:30 Sept 2008
PSD disclosed:19 Aug 2008

Project Description

The project supports the development of a medium sized domestic petrol retailer, funding the construction of new depot stores and gas filling stations in Mongolia.

Transition Impact

The transition impact of the transaction will be twofold:

Support of private sector development and increased competition
Through the proposed financing, the Bank will contribute to support MT in establishing itself as a successful domestically-grown company, able to plan its operation over the medium term and compete successfully in the domestic market.

Demonstration Effect of Higher Standards
The proposed transaction will improve standards in various areas:

(a) Higher environmental and safety standards. Through the proposed investment in the upgrade of storage depots and petrol stations, the environmental and safety standards of the Company are expected to improve significantly and set new standards in Mongolia. This will be achieved through implementation of an agreed environmental and social action plan.

(b) Improved business and corporate governance practices. It will improve transparency and corporate governance standards. Moreover it will introduce an MIS for the Company.

The Client

Magnai Trade LLC, a medium-sized Mongolian Company specialised in importing and distributing petroleum products throughout Mongolia.

EBRD Finance

Debt and equity financing of up to USD 35 Million.

Project Cost

USD 35 Million.

Environmental Impact

The project was screened B/1. Environmental investigations including an independent environmental, health and safety audit and a site visit by the Bank’s Environmental Specialist confirmed, that whilst there are a number of outstanding environmental, health and safety issues that need to be addressed, overall the Company's operations are in compliance with national requirements and there are few if any significant issues. All of the outstanding issues are contained in an environmental and social action plan (ESAP). Issues addressed included environmental management and monitoring, air emissions, hazardous materials storage, waste management; health and safety, fire and franchise management.

Technical Cooperation

Donors have provided EUR 90K for the project preparation through the Mongolia Cooperation Fund.

Company Contact

Magnai Trade Co. Ltd.
Ikh Toiruu 14, MT Building
Ulaanbaatar 20,
PO Box 336, Mongolia

Business opportunities

For business opportunities or procurement, contact the client company.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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

Project Complaint Mechanism (PCM)

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 pcm@ebrd.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