Project description
and objectives:
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The objectives of the project would be to finance the purchase of up to 30 new
large buses for the municipal public transport company in Sibiu – Tursib -
(the company) and to finance a street upgrading programme with the City of
Sibiu (the city).
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Transition
impact:
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Demonstration effect
The Team will structure the loan without a
full financial guarantee from the City, which would be one of the first such
municipal loan in Romania. As such the Operation would allow the Bank to lend
directly to a municipal transport company in Romania.
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Support to the further corporatisation of the Company and organisational
improvements
Transition impact will be delivered through
outsourcing of non-core operations to realise efficiencies and a twinning
programme with a “best in class” public transport operator.
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Client-Supplier Relationship through the Public Service Contract (the “PSC”)
The
Operation would support the development of one of the first Romanian
comprehensive PSCs for a public transport company. The PSC will define the
scope of services provided by the Company and will set the level for service
payments by the City for the services it purchases. The service payment
replaces the system of direct, untargeted subsidies, and provides incentives
for the Company to improve its financial and operational performance.
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The client:
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Sibiu Public Transport Company – Tursib - (the “Company”)
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The City of Sibiu (the “City” or “Sibiu”)
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EBRD
finance:
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The project would comprise two loans from the Bank:
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Up to EUR 5 million senior loan to the Company
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Up to EUR 10 million loan to the City (of which EUR 5 million would be
syndicated to a commercial bank)
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Total project cost:
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The total cost of the project has been estimated to EUR 18 million.
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Environmental impact:
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Screened B/1.
The introduction of a new 30 bus fleet will help develop public transport
alternatives as well as reduce traffic congestion, noise and air pollution in
Sibiu. An Environmental Analysis will need to be carried out for the project
to confirm that the street rehabilitation programme and the new buses to be
purchased will comply with Romanian and EURO III standards for air emissions;
and an Environmental Audit of the existing garage will need to be completed
focusing on site contamination, liabilities and key non-compliance issues and
subsequently necessary mitigation measures. Based on this audit the client
will need to develop and implement an Environmental Action Plan satisfactory
to the Bank. These requirements will need to be reflected in the legal
documentation. In accordance with the EBRD Environmental and Public
Information Policy, local public disclosure of the Environmental Review
Summary for this project will have to be carried out after the Environmental
Audit and the development of an EAP. No other issues to raise at this stage.
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Technical
cooperation:
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Pre-signing
Technical and Environmental due diligence (EUR
40,000).
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Post-signing
The Bank would see donor funds to arrange for a
Twinning programme between Tursib and a “best in class” public transport
operator.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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EBRD contact:
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Dana Craciunescu , Operation Leader: craciund@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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