Project number:


Business sector:

Natural resources

Notice type:


Environmental category:


Approval date:

25 Mar 1997



PSD disclosed:

28 Jan 1997


Project Description

A loan of ECU 13.4 million to finance the construction of a plant to recycle electronic scrap and to recover its precious metal content. The plant will be located in Kaluga, 180 km west of Moscow. This project has been cancelled.

Transition Impact

The project is an attempt by the Russian Government and the Ministry of Defence to entrust the realisation of assets to a private commercial venture backed by international investors. The Russian Government has elected to let the private sector come up with, and compete for, its own technological and commercial solutions. The success of this venture will set a high-profile precedent to be duplicated in other circumstances.

The Client

Metallurgicheski Zavod Ametist is a newly formed company. Its main shareholder is Ametist AOOT, which was a leading military company producing electronic components for hardware used in guiding systems. The plant will be built by Valme Industries SA, a French company specialising in this sector. International investment funds will provide around 30 per cent of the equity financing.

EBRD Finance

The EBRD will provide a US$ 17.1 million (ECU 13.4 million) loan, of which US$ 6.4 million (ECU 5.2 million) will be syndicated to commercial banks.

Project Cost

US$ 32.2 million (ECU 25.7 million).

Environmental Impact

The project involves the conversion of a former military site into an electronic scrap recycling facility. The project has environmental objectives as it contributes to the reduction and processing of waste material requiring final disposal.

The project was screened as B/1, requiring environmental auditing of existing facilities located in Kaluga and an environmental analysis to identify environmental or health and safety issues associated with the proposed development and to review the adequacy of the proposed mitigation measures. The main environmental issues identified encompassed regulatory compliance of the existing facility and of the proposed development with Russian and European Union requirements, responsibility for existing liabilities at the military site, waste-water treatment and discharge, air emissions and waste management.

Based on the findings of environmental investigations, a preliminary Environmental Action Plan (EAP) has been prepared. The EAP includes the adoption by the company of an environmental management system, a programme for investigation and monitoring of sub-surface soil and water quality, and provisions for air emissions, liquid effluents and waste management.

As part of the agreement with the EBRD, the company will be required to finalise and implement the EAP to ensure the company's compliance with applicable regulatory requirements in Russia and in the European Union. The company will also be required to report annually to the Bank on environmental, health and safety matters, including the implementation of the EAP.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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