In November 2010, the EBRD provided EUR 80 million in financing for the development of Expur S.A., a local Romanian oilseed crusher and processor located in south-eastern Romania. In September 2011, the EBRD increased its financing to Expur by EUR 30 million.
The Project is helping Expur to increase capacity, improve efficiencies and product quality, expand its business into new products, and increase its market share on the Romanian market.
The EBRD loans are expected to facilitate market expansion and competition by introducing new products to the Romanian market to give customers greater choice for a better value compared to imports. A demonstration effect will be achieved through the introduction of new technology and production efficiencies, as well as and knowledge and skills transfer.
Expur S.A. engages in the procurement, crushing, and processing of sunflower seed and rapeseed for the Romanian market and for export. The end products include edible sunflower oil, meal from sunflower seed and rapeseed, and biodiesel.
1) EUR 80 million to finance investments and working capital;
2) EUR 30 million to finance working capital.
All loans are syndicated to commercial banks.
EUR 110 million
The Project was Categorised B according to the EBRD’s Environmental and Social Policy 2008. The potential adverse future environmental and social impacts associated with the Project are site-specific and readily addressed through mitigation measures.
The Bank's environmental and social due diligence undertaken in June 2010 consisted of a review of findings from an environmental, health and safety audit of Expur's Romanian facilities; a review of EBRD Corporate E&S Due Diligence questionnaire completed by the Client. The findings of due diligence were that the facilities are not associated with any significant environmental or social issues, are not a source of environmental pollution nor are they of significant risk to local communities.
Based on the EHSS due diligence an Environmental and Social Action Plan (ESAP) was developed and has been agreed to ensure the Company's compliance with the Banks Performance Requirements (PRs). The ESAP will keep the facilities in line with Romanian and EU standards and EBRD Performance Requirements for environment, health and safety and labour.
In March 2011, the Company provided the Bank with its first annual environmental report. The Company is progressing satisfactorily on the implementation of the ESAP. The Company's labour practices and EHS management procedures are in line with PRs. The Company is committed to comply with all PRs for their ongoing and future activities.
The Bank will continue to monitor the Company's environmental and social performance for the lifetime of the project through annual environmental and social reporting and via periodic site visits. The Company will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety.
Mr. Fabien KAY, Communication manager for Oilseeds Division
Tel : +33 1 40 69 49 58; Fax : +33 1 40 69 49 86
Email : email@example.com
For business opportunities or procurement, contact the client company.
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