Project description
and objectives:
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The project will establish a US$ 45 million leasing framework facility on a risk sharing basis between Sumitec International (Sumitec), which is a Russian subsidiary of Sumitomo Corporation (Japan), and the EBRD. The facility will provide lease financing to Russian companies modernising or expanding their fleet of construction and mining machinery.
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Sub-projects:
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- Sumitomo Leasing - OAO Spetsgazavtotrans
- Sumitomo Leasing - OAO Razrez Raspadskiy
- Sumitomo Leasing - OAO Mezhregiontruboprovodstroy
- Sumitomo Leasing - Krasnoyarskkrayugol
- Sumitomo Leasing - Krasnoyarskkrayugol-II
- Sumitomo Leasing - OAO Razrez Kiselevskiy
- Sumitomo Leasing - OAO Nizhne-Lenskoe
- Sumitomo Leasing - ZAO Chernigovets
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Transition impact:
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The transition impact potential will be derived from the following:
- The project will support the expansion of the Russian leasing market, which is still in the early years of development. It will enhance competition in vendor leasing markets and the construction machinery sector, especially in Siberia and the Far East regions, both of which are currently under-serviced by the leasing industry.
- The project will also contribute to market-based conduct, skills and innovation, through implementation of high standards of business practices and market behaviour, thereby achieving an important demonstration effect in the sector in which it will operate.
- Finally, the project will facilitate provision of financing to small and medium-sized companies, which in general lack access to affordable financing mechanisms.
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The client:
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The beneficiaries of the proposed financing will be end-users of Komatsu equipment: Russian small and medium sized construction and mining companies,. Sumitec will act as project sponsor and lessor, providing financing for 100% of the leases' amount and taking a risk share of two-thirds in each lease transaction.
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EBRD finance:
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Up to US$ 15.0 million, through an-unfunded risk participation.
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Total project cost:
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Up to US$ 45.0 million.
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Environmental impact:
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Sumitec is responsible for ensuring that lessees meet the environmental standards associated with the operation, and will conduct environmental due diligence on potential lessees in accordance with the EBRD's Environmental Procedures for Leasing; lessees will be required to comply, at a minimum, with applicable Russian health, safety and environmental regulations and standards.
Komatsu machines in production today are designed in accordance with internationally recognised standards, reflecting state-of-the-art operator safety and environmental responsibility, including compliance with current and upcoming Stage II EU vehicle emission regulations. Komatsu's maintenance contracts with lessees will ensure that machines maintain their high environmental and safety standards throughout the duration of the lease.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr. Ryo Onodera, First Vice President (Russia).
Tel: +7-095-797-28 48
Fax: +7-095-797-2883
E-mail: ryo.onodera@sumitec.ru
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EBRD contact:
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Dmitry Loginov, Operation Leader: loginovd@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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