The project consists of the development of Michelin operations in Russia. Michelin, based in France, is one of the largest tyre manufacturers in the world. The investment would help establish production facilities, improve technology and create new jobs. The project aims to achieve the successful development of a new manufacturing facility, which will help to make the Russian tyre industry more competitive in the domestic market and, potentially, export markets in CIS countries.
The proposed investment would have a positive impact in terms of new technology and management know-how transfer as well as providing a model for similar projects to the foreign investment community.
Michelin Russian Tyres Manufacturing Company (the Company) - was established n Davydovo, Moscow region to produce high quality tyres mainly for the Russian market.
The EBRD investment will be used to finance a part of the development of the company with up to US$ 20 million (approximately €22 million) equity investment.
US$ 20 million (€22 million approximately).
The project has been screened as B/1, requiring an environmental analysis of the proposed development and an environmental audit of the existing facilities. Michelin has commissioned an independent environmental assessment of the site in Davydovo carried out by international specialists.
Michelin is committed to structure the project in accordance with the relevant Russian and EU environmental and occupational health and safety standards.
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