18 Sep 2001
07 Aug 2001
A proposed loan to Vetropack Straza d.d., for renovation and expansion of its glass production plant.
The project would allow Vetropack to expand its operations and so increase sales to improve its market position in existing market segments and neighbouring markets.
The transition impact of the project is likely to include:
improved quality of diversified product portfolio and backward integration from the successful beverages and food sector; and
demonstration effect of supporting the strategic investor in an industrial sector by increasing the country's exports and cross-border trade between FYR Macedonia, Bosnia and Herzegovina, Slovenia and FR Yugoslavia, through direct sales to leading food and beverage producers.
Vetropack Straza d.d is a leading glass bottle producer in Croatia, which is majority-owned by the Swiss glass bottle producer Vetropack Holding AG.
Loan of €12.5 million.
The project was screened B/1, requiring an environmental review of the existing facility and an environmental analysis of the proposed expansion of the glass bottling facility. The investigations will include an assessment of potential environmental issues associated with past operations. Glass manufacturing produces substantial volumes of waste heat and greenhouse gasses (GHG), and the most technologically advanced energy efficient requirements will be incorporated in the design of the new furnaces. In Switzerland, Austria and the Czech Republic, Vetropack operates comprehensive collection and recycling systems either alone or in collaboration with other organisations, and a similar organisation is being established in Croatia. The company is committed to comply with all appropriate national and EU environmental, health and safety standards.
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