Project description
and objectives:
|
The proposed project will partly finance the investment in efficiency and
capacity expansion of the glass production facilities at OJSC Vetropack
Gostomel Glass Factory’s site in Gostomel.
|
Transition impact:
|
The proposed project’s transition impact to the Ukrainian container glass
industry is expected from:
(i) Demonstration effect is derived from improved energy efficiency by
introducing new technology and replacing existing equipment;
(ii) Introducing greater competition and innovation to the sector via
introducing new standards of technology. Innovation will also create
competitive pressures on the sector with the other large manufacturers.
(iii) Enterprise restructuring: Under the Project new standards of corporate
governance will be introduced such as unified group wide reporting and
management information systems.
(iv) Contribution to market expansion: Through the interaction with other
parts of the food chain, the project will assist the Company to provide the
Ukrainian bottling industry with greater choice and better quality of food and
beverage packaging on a consistent and stable basis, closer to what is
available to consumers in the West.
|
The client:
|
Ukraine’s OJSC Vetropack Gostomel Glass Factory is among the largest glass
container producer in Ukraine and was established in 1912 in the town of
Gostomel, near Kiev and was privatised in 1993. In February 2006 a majority
stake in the company was acquired by Swiss Vetropack Group.
Swiss Vetropack group manufactures markets and supplies container glass
products and a range of related services to the food and beverage industry. It
operates six production sites and 13 melting furnaces with a total aggregate
capacity of more than 3.6 billion pieces per annum.
|
EBRD finance:
|
EBRD will provide a senior, secured loan of up to USD 68m in two phases, part
of which will be syndicated to commercial banks under an A/B-loan structure.
|
Total project cost:
|
The EBRD finance will be used for balance sheet restructuring, equipment
procurement, capacity expansion and efficiency improvements.
|
Environmental impact:
|
Screened B/1. In the context of the first EBRD project with Gostomel an
environmental audit and environmental analysis were undertaken. These were
conducted by independent environmental consultants and resulted in a number of
recommendations which were formalised in an environmental action plan. Key
issues within the EAP included the remediation of a number of oil contaminated
areas on-site, the reconstruction of the storm water drainage system and the
reconstruction of storage facilities for a range of oils and hazardous
materials. The completion of the EAP was verified during the recent
monitoring visit undertaken by the Bank.
Looking forward, Vetropack will be required to operate the Gostomel facilities
in compliance with applicable national and EU environment, health and safety
requirements. Vetropack is recognised as a leader within the sector for the
management of environmental issues and will apply its own comprehensive
environmental policies and approaches to the facilities of Gostomel. As
stated above, it is anticipated that the involvement of Vetropack will bring
new standards in environmental management and energy efficiency and reductions
in air emissions. Vetropack have confirmed that revamped and new furnaces
will meet the same standards as the latest furnaces within the Vetropack
group. Vetropack will provide the Bank with an annual report on
environmental, health and safety issues.
|
Technical
cooperation:
|
None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
Mr David Zak, CFO Vetropack
Tel: +41 1 863 31 31
Fax: +41 1 863 31 33
E-mail: corporate.communications@vetropack.ch
Mr. Dmytro Oliynyk
Tel: + 380 4497 31344
Fax: + 380 4497 31135
E-mail: office@gostomelglass.com
|
EBRD contact:
|
Christian Kleboth, Operation Leader: klebothc@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
|
