JN - Wagon Financing

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 34836

Status Complete

Location

Russia

Business Sector

Transport

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 34836

Status Complete

Location

Russia

Business Sector

Transport

Notice Type

Private

Environmental Category

Approval Date

27 Jun 2006

Disclosure date

19 May 2006

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The proposed project will finance the expansion of the fleet of rolling stock owned by OOO Huolintakeskus by providing medium-term lending for the acquisition and refinancing of wagons for transport of timber and wood chips. The project is important for the development of commercial traffic between Northwest Russia and Finland, while encouraging private ownership of rolling stock in line with rail sector reform in Russia.

Transition Impact

The project encourages private ownership of rolling stock in line with one of the reform objectives of the recent railway sector reform in Russia. Private entrepreneurship will also increase the provision of value-added logistics services alongside transportation, and orientation towards customer needs of forestry companies as clients of the Borrower. Know-how of the more value-added services provided will be increasingly transferred to the local workforce employed.

The Client

OOO Huolintakeskus is a company registered under the laws of the Russian Federation and based in St. Petersburg. It is majority-owned by John Nurminen Oy of Finland and specialises in providing railway transport and logistics services to the forestry industry in Northwest Russia, in particular on routes linking the region to the Finnish border.

EBRD Finance

RUB 554.4 million senior loan to OOO Huolintakeskus.

Project Cost

RUB 800 million.

Environmental Impact

Screened C/0. The purchase of new stanchion wagons is not associated with significant environmental impacts. JN will conduct its business with due regard to the environment and public and occupational health and safety and in compliance with Russian environmental laws and regulations. Annual environmental, health and safety reports will be submitted to the Bank.

Technical Cooperation

None.

Company Contact

Antti Sallila
Director, Finance
Nurminen Logistics
Pasilankatu 2
P.O. Box 124
FIN-00241 Helsinki, Finland
Tel: +358-010-54500

E-mail: antti.sallila@nurminenlogistics.com
Website: www.nurminenlogistics.com

PSD last updated

01 Feb 2019

Business opportunities

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Public Information Policy (PIP)

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Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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