Project description
and objectives:
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The proposed project will consist of two components:
(i) implementation of the priority track rehabilitation programme to ensure
adequate rail track safety standards; and
(ii) a labour severance programme to support the restructuring programme of
Zeljeznica Crne Gore Infrastruktura DOO (ZCG Infrastruktura).
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Transition
impact:
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The proposed project will contribute to the transition process by:
Contribution to market-based conduct and skills/setting business standards.
Impacts include:
(i) transfer and dispersion of skills in the areas of strategic planning;
(ii) transfer of modern rail track maintenance planning and practices; and
(iii) setting standards for corporate governance and business conduct.
Frameworks for markets:
(i) the proposed project will support the implementation of the labour
restructuring programme as part of the ongoing rail sector reform; and
(ii) the proposed project will support the ensuring of the regulatory
framework for achieving the sustainable success of the organisational changes
introduced in 2006.
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The client:
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The Client is Zeljeznica Crne Gore AD (ZCG AD), the national rail holding
company of Montenegro, and the Beneficiary is ZCG Infrastruktura, the fully
owned subsidiary of ZCG AD and the manager of the national rail network.
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EBRD
finance:
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The EBRD will provide a sovereign guaranteed loan of EUR 15 million.
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Total project cost:
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EUR 15 million.
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Environmental impact:
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B/1 screened project. The proceeds of the loan will be spent on emergency
infrastructure rehabilitation and contribute to improving the safety of
Montenegro’s rail transportation system. The loan funding will also be
extended to cover part of the labour restructuring programme. The Bank's
environmental due diligence confirmed that Montenegro Railways is developing
an environmental management system, which is intended to be certified under
the ISO 14,001 scheme. The Company's retrenchment policy will be reviewed by
an independent consultant and if needed mitigation measures will ensure that
the labour severance component of the project is undertaken in accordance with
Bank policy and good international practice. These will be covenanted in the
loan agreement and monitored by the Bank.
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Technical
cooperation:
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In support for the Project, the Bank will provide the TC funds of EUR 250,000
to assist ZCG Infrastruktura in preparation of a medium term Infrastructure
Asset Management Plan that will help ZCG Infrastruktura in increasing its
operational efficiency and introducing modern rail track maintenance
procedures.
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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