Project description
and objectives:
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The operation will enable ARZ to complete the construction upgrading to full
motorway profile between Kikovica and Stara Susica which, together with other
investments, will complete the motorway between Rijeka and Zagreb.
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Transition
impact:
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The proposed project will include a Technical Assistance Programme to assist
the Company in preparation of the medium term Corporate Strategy. The main
transition impact will come from loan conditionalities related to the
commercialisation of ARZ in the post-construction phase.
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The client:
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ARZ – the Client - is a Public Limited Company fully owned by Croatia. The
Client holds a 28 year renewable concession (of which 20 years are left) to
design, build, finance, operate and maintain all sections of the motorway
linking Rijeka with Zagreb.
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EBRD
finance:
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The EBRD finance would be in the form of a Sovereign Guaranteed loan of EUR 50
million to ARZ.
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Total project cost:
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EUR 290 million.
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Environmental impact:
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The project has been screened C/0. The project is an extension to an existing
Bank project, which underwent an Environmental Impact Assessment and public
consultation in accordance with the Bank’s Environmental Procedures for
A-category projects in 2000-2001. The Bank’s Environmental Specialist
undertook a site visit along the entire length of the motorway, held meetings
with the Ministry of Environment and discussed with the consultants who
undertook the update of the Environmental Impact Assessment (EIA). The
investigations confirmed that the upgrading to full profile motorway, by
adding a second road carriageway, will not result in any deviation from the
existing corridor and will not raise any significant new environmental issues
to the original project. The review of the EIA's and public consultation
already undertaken showed that they were carried out in full compliance with
national requirements and in accordance with EU EIA Directives.
The EIA has identified all necessary environmental protection and mitigation
measures and provides a detailed Environmental Management Plan (EMP) for the
project. Discussions are under way to finalise the EMP, the implementation of
which will be covenanted in the loan agreement. Furthermore the Sponsor has
recently established a new environmental protection department within ARZ and
aim to achieve full ISO 14001 accreditation in 2006. This should help to
ensure that the Environmental Mitigation, Management and Monitoring Plans,
which form a condition of the construction and operation permits, will be
implemented in full and to a very high level.
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Technical
cooperation:
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EUR 250,000 to be mobilised to prepare privatisation strategy of the motorway
company in the medium term.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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EBRD contact:
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Agnieszka Lukasik, Operation Leader: lukasika@ebrd.com
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Procurement or tendering
opportunities:
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Visit EBRD Procurement
Enquiries: Tel: +44 20 7338 6794; Fax: +44 20 7338 7472, Email: procurement@ebrd.com
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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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