The proposed project will support strengthening of the Company’s competitive position on its various CIS markets and finance selective investments.
The transition impact of the Project is expected to derive from continuous support to the upstream Georgian grape growing sector as well as strengthened linkages with the downstream Russian distribution sector expected to benefit from stronger marketing support and regional expansion of distribution. Transition impact may also derive from TC support with institutional component to be finalised.
Georgian Wines and Spirits Ltd (the Company) is one of the leading Georgian wines producer and a client of the Bank since 1999. The Company is owned for part by Pernod Ricard Group, the second leading European producer and distributor of alcoholic beverages and the 3rd largest world-wide by sales volume.
Medium-term corporate loan to the Company in an amount of up to US$7.3m.
Screened C/0. An environmental audit of the Company was conducted in 1999 and the resulting Environmental Action Plan implemented. This included construction of a waste water treatment plant; obtaining licenses for water extraction; the introduction of regular monitoring of water quality and effluent; and improvements environmental management and housekeeping.
The Company maintains they are in compliance with Georgian environmental, health and safety standards and regulations and have incurred no violations, fees or penalties. Going forward the Company will continue to comply with Georgian and applicable EU standards.
While not key to project implementation, TC is being considered to support institutional reforms in the Georgian wine sector.
Philippe Hébert, PR Europe,
Tel: +33 1 44 11 76 20.
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