Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

25 Jun 2002



PSD disclosed:

21 May 2002

Project Description

A proposed loan to Malteurop Ukraine for expansion and renovation of an existing malting plant and the construction of a second plant on a greenfield site.
Project objectives:
  • The renovation and expansion of a malt processing facility in Chernigov, Ukraine.
  • The construction and putting into operation of a malt processing facility in Kharkov, Ukraine.
  • Provision of working capital for inventory financing.

Transition Impact

The transition impact of the Project is likely to include:
  • Significant transfer of know-how to farmers. Malteurop will work closely with farmers to improve quality and yields through agronomic assistance and training. Malteurop will also bring malt industry best practice to Ukraine.
  • Import substitution and economic linkages: The Project links the cash being generated in the beer sector directly back to Ukrainian farming by creating the logical economic linkages including pre-financing to farmers. This will provide increased cash flow to continue restructuring of the sector.
  • Demonstration effect: Relative to its potential, Ukraine still has attracted very limited international investment in agribusiness (particularly in upstream activities which integrate closely with the farming sector). Malteurop is one of the first high profile foreign investors in Ukrainian cereals processing and should help to highlight Ukraine’s strong medium term potential as an agribusiness country.

The Client

Malteurop Ukraine and Malteurop Eastern Ukraine, malt suppliers to Sun Interbrew Ukraine, one of the largest brewers in Ukraine. Malteurop Ukraine is fully owned by Malteurop France, one of the largest maltsters in the world.

EBRD Finance

Term loan of  8.5 million and a revolving working capital loan of  20 million of which EUR 13.7 million has been syndicated.

Project Cost

EUR 44.4 million.

Environmental Impact

The project is screened B/1 requiring an environmental audit of the existing facilities and an environmental analysis of impacts associated with facility modification and new developments. Independent environmental consultants have been retained to undertake the required studies. The studies will, amongst other things, assess facility compliance against both national and EU environment, health and safety standards and, if required, makes recommendations for the development of an environmental action plan to ensure these standards are met within an acceptable timeframe."

Technical Cooperation


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

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