Project description
and objectives:
|
Financing Ulker group’s expansion in the Romanian market by establishing a new
production base to manufacture biscuits, chocolate, bullion and margarine
products.
|
Transition impact:
|
The project has good transition impact potential. The project will:
-
Improve linkages in the food supply chain: The main raw materials for the new
production lines in Romania will be sourced from several local producers.
Local suppliers will be subject to the Sponsor’s quality controls. The project
will also have a positive impact in the modernisation of the distribution
channels, and expanding the number of distributors/retailers worked with. This
will make possible a transfer of know-how in respect of marketing,
merchandising and logistics.
-
Introducing greater competition and innovation. The project will increase the
competitive pressures over the existing players via the increase in the volume
and range of products produced.
-
Involve corporate governance improvements.
|
The client:
|
The Sponsor of the project is Yildiz Holding A.S., the holding company of the
Ulker Group of Turkey which is the largest food company in Turkey.
|
EBRD finance:
|
Senior secured loan: US$ 8.9 million to Eurex Alimentare
|
Total project cost:
|
US$ 21.8 million
|
Environmental impact:
|
This project was screened B/1 requiring an environmental audit and analysis of
the plant. The study was conducted by an independent environmental consulting
firm and the resulting reports and recommendations were submitted to the Bank
for review.
The Eurex Alimentare plant is currently 80% complete and has not yet started
operation. The consultants reviewed the existing facilities and the plans for
future operations. They concluded that the finalised facility will not have a
significant environmental impact, will incorporate a number of features to
minimise its environmental footprint including the installation of a waste
water treatment plant and a gas fired boiler. The facility will meet both
national and applicable EU standards and has received the environmental
authorisation in accordance with Romanian law. An EAP has been developed to
ensure that the facility meets good environmental practice and legislative
requirements on an on-going basis.
|
Technical
cooperation:
|
None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
Ender Bolat (General Manager)
Eurex Alimentare S.R.L
Str.
Pitar Mos, nr. 29, ap. 11, Bucuresti
Tel: +40.21.3038297
Fax: +40.21.2128395
e-mail:
ender.bolat@ulker.ro
|
EBRD contact:
|
Mehmet Ilkin, Operation Leader: ilkinm@ebrd.com
|
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
|
