Manufacturing and Services
04 Sep 2001
31 Jul 2002
A proposed loan from the EBRD to Aquachemia a.s., to finance a comprehensive programme of maintenance, refurbishment and capacity enhancement and improvement of the environmental impact of a caprolactam (CPL) plant.
The principal objectives of the project include:
acquisition of the CPL plant by the Bonazzi Group;
modernisation and capacity enhancement of the CPL plant; and
improvement of the environmental and health and safety standards of the plant.
The project will contribute to the transition process by:
strong know-how and technology transfers to the company and the local chemical industry in general; and
setting an example of a successful restructuring of an enterprise, supported by a strong foreign strategic partner, including significant improvement in environmental standards.
Aquachemia is a joint-stock company incorporated under the laws of the Slovak Republic, and established to acquire and operate an existing CPL plant. The company is 95 per cent-owned by the Bonazzi Group and is the group’s dedicated supplier of CPL, the basic raw material used in nylon carpet yarns production by the group.
The EBRD proposes to invest a senior loan of €8.1 million.
The project was screened B/1, requiring (i) an environmental analysis to determine the environmental impact of the proposed new investment programme; and (ii) an environmental audit to determine risks or potential liabilities associated with existing facilities at the site. The project will have significant benefits to the environment and health and safety standards. The company is committed to significantly improving these standards at the plant. The group developed a comprehensive Environmental Action Plan (EAP) to bring the company’s operations into compliance with the applicable environmental, health and safety requirements, in accordance with relevant Slovak and EU regulations.
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