Project description
and objectives:
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The proposed project comprises supporting the expansion of Lenta’s branded
retail chain to the Russian regions. As part of the project the company will
purchase land or usage rights for land, construction, equipping and start-up
of several large format food retail stores in the Russian regions to be
operated under the Lenta brand.
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Transition impact:
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The Bank’s finance will support the further development of the Russian retail
sector with improved access for the consumer to an efficient, competitive and
hygienic shopping environment. The project also supports improvements in
corporate governance and transparency as well as improved operational
efficiency in a successful Russian company.
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The client:
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Lenta Group is one of the leading Russian food retailers operating a branded
chain of large format discount stores.
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EBRD finance:
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US$ 50 million unsecured long term debt
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Total project cost:
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US$ 215 million.
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Environmental impact:
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The project has been screened C/1 requiring an environmental audit of the
company's corporate environmental policies, procedures and practices.
Following completion of due diligence, any resulting recommendations will be
formulated into a time-bound, costed environmental action plan ("EAP"). The
aim of the EAP will be to ensure compliance with relevant Russian Federation
environmental standards, EU environmental standards and any other relevant
good international practice. The company will be required to provide the Bank
with an annual environmental report on the implementation of the EAP and any
other environmental matters. This PSD will be updated following completion of
environmental due diligence to include summary information on the EAP and any
other environmental actions agreed with the company.
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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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Website: http://www.lenta.com
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EBRD contact:
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Antoine Deroide, Operation Leader: deroidea@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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