Project description
and objectives:
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Financing the SiseCam group’s further expansion in the Russian glass beverage
container sector via the construction of a greenfield plant near the town of
Ufa in Central Russia in the Volga region.
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Transition impact:
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Introducing greater competition and innovation
The project will
introduce lightweight technology to central and eastern regions in Russia.
Project is expected to be a catalyst for similar investment and innovation by
other large glass producers in the Central and Eastern Russia area.
Contribution to market expansion
The project will enable the
Company to provide the Russian market greater choice and better quality food
and beverage packaging on a consistent and stable basis. The project will
increase the access of brewers in Central and Eastern Russia to modern
standards of packaging.
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The client:
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Ruscam-Ufa LLC, a greenfield company, majority-owned subsidiary of Anadolu
Cam, the largest producer of food and beverage containers in Turkey and a
member of the Turkish SiseCam group.
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EBRD finance:
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This is an expansion to the original project approved and signed on the 31 May
2005.
The original financing for an amount of USD 32.5 million (EURO 27.1 million)
was singed and fully disbursed. This project is an extension to that financing
for expansion of the investments in the plant. A new long term investment
loan will be provided up to USD 10 million (EURO 8.3 million). A new working
capital loan of up to USD 5.5 million (EURO 4.6 million) will also be provided
by the Bank. The expansion financing totals USD 15.5 million and will be
provided as combination of an ‘A’ loan for the Bank’s own account of USD
10.5million (EURO 8.8 million), including the working capital loan and ‘B’
loan portion of USD 5million (EURO 4.2 million) for the account of
participant(s).
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Total project cost:
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USD 85 million.
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Environmental impact:
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The project has been classified B/0, requiring an environmental analysis.
This analysis was conducted in the context of the initial Bank loan to the
Company based on the assessment of impacts on the environment (OVOS) prepared
in accordance with Russian law and on the Sponsor's answers to the Bank’s
Environmental Questionnaire (see original PSD for Glass Packaging Plan of
Ruscam-Ufa LLC).
The site of the facility is classified as industrial land and the location of
the plant is not associated with significant environmental sensitivities. The
Sponsor has designed the plant in compliance with Russian laws and regulations
and taking into account EU environmental standards, including Best Available
Technique (BAT) standards under EU Integrated Pollution Prevention and Control
(IPPC) Directive. An Environmental Action Plan (EAP) has been developed to
ensure that the plant will implement EU environmental BAT standards within a
satisfactory timeframe.
The EAP addresses, among other things, air emission control and the overall
management of environment, health and safety issues. In April 2006 staff from
the Bank undertook a site visit to the facility to monitor construction
progress and the implementation of the agreed EAP. The Company will provide
the Bank with annual environmental reports on the implementation of the EAP
and any other relevant EHS matters.
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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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Aytac Mutluguller, Manager, International Finance & Investments
Turkiye
Sise ve Cam Fabrikalari A.S.
Is Kuleleri
Kule 3
34330
4
Levent, Istanbul
Turkey
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EBRD contact:
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Mehmet Ilkin, Operation Leader: ilkinm@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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