Project description
and objectives:
|
The proposed project is financing an affiliated company of Louis Dreyfus
Commodities Group (the “LDC Group”), which controls a majority stake in
Ruselco, a silo operating company in Russia. Proceeds of the financing will be
used to support the existing silo operation via:
i) upgrading of existing infrastructure assets and,
ii) potential acquisition of new silos.
to improve the overall company’s competitiveness.
|
Transition impact:
|
Transition impact is expected to be substantial:
• Demonstration effect derived from restructuring local infrastructure assets,
both at sector and company level, and introducing international business
standards;
• Backward linkages via encouraging an increased number of farmers to utilise
the facilities and services; and
• Increased competition in the sector via improved services and expansion of
the network.
|
The client:
|
An affiliated company of LDC Group.
|
EBRD finance:
|
Financing of an affiliated company of LDC Group for the ultimate benefit of
Ruselco.
|
Total project cost:
|
Confidential.
|
Environmental impact:
|
The project has been screened C/1. Environmental due diligence (EDD) comprised
a review of technical and environmental reports supplied by the client, as
well as the review of the borrower’s existing EHS management practices. EDD
has confirmed that all potential environmental, health and safety and
labour/social risks associated with the acquisition of new and modernisation
of the existing grain silos and elevators will be addressed by the client in a
responsible manner, and all measures required to bring Ruselco’s silos
operations to compliance with applicable national and EU environmental, health
and safety and labour standards will be implemented. Ruselco management team
has prepared an in-house manual for “Corporate Management Practices” (CMP)
which addresses issues of corporate environmental, health and safety policy,
as well as labour standards. This CMP document includes the “Guidelines/policy
on Occupational Health & Safety at Ruselco’s Elevators” and “Guidelines/policy
on Environmental Safety at Ruselco’s Elevators”. It has been reviewed by ED
and found satisfactory. Compliance with the requirements of the CMP and the
respective Guidelines will be covenanted in the legal documentation, and its
implementation will be monitored by the Bank on a regular basis.
|
Technical
cooperation:
|
None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
Stephane Mac Farlane, Managing Director
Tel. +7 (495) 363 6000
E-mail: stephane.macfarlane@ldcommodities.com
|
EBRD contact:
|
Marc Van Strydonck, Operation Leader: strydonm@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
|
