Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

02 Dec 1997



PSD disclosed:

04 Nov 1997


Project Description

Expansion of the local private company, A.S. Imavere Saeveski, by purchasing and installing a second state-of-the-art sawmill line together with sorting lines for wet and dry saw material, a new boiler house and dry kilns for drying the sawmill production.

The principal objectives of the project are to:

  • increase the production capacity of the company;
  • increase the flexibility of production, which would enable the company to better serve the export markets by offering products with a variety of specifications.

Transition Impact

The project will contribute to the transition process by:

  • supporting the development of a modern and competitive mechanical forest processing industry in Estonia;
  • directly supporting export-oriented activities;
  • promoting the shift from the export of low value-added raw materials to the export of higher value-added processed products;
  • technology transfer as the new line will comprise state-of-the-art equipment;
  • increasing Estonia's net foreign currency earnings.

The Client

A.S. Imavere Saeveski (IS), a joint-stock company incorporated under the laws of Estonia, is privately owned and controls the most modern sawmill in Estonia.

EBRD Finance

Corporate loan of DM 13.8 million (ECU 7 million).

Project Cost

DM 35.8 million (ECU 18 million).

Environmental Impact

This operation was screened B/1 and was the subject of a combined Environmental Audit and a focused Environmental Assessment. The consultants' report indicates that Imavere is the most modern sawmill in Estonia and the company currently complies with local and national environmental health and safety standards. Inspection visits by the relevant authorities have not indicated any significant areas of non-compliance apart from noise and vibration levels in some parts of the facility. Workers are required to wear noise protection equipment in such areas, and efforts are being made to reduce vibration levels. As part of the investment programme, the facility will operate according to EU/Nordic environmental, health and safety standards. Furthermore, the company intends to include environmental health and safety management in its attempts to comply with ISO 9001 during 1998-99. An Environmental Action Plan has been prepared to this end. The company will be required to submit to the Bank an annual environmental report on health, safety and environmental issues, indicating progress made in this initiative. The report will also provide information on wood consumption and sourcing.


During the latter half of this century, Estonia's woodland has constantly increased, and today Estonia has one of the highest per capita reserves of standing forest in Europe. The annual rate of cutting is less than 1 per cent of the total woodland reserve, and it is generally accepted that the annual volume of felling could increase significantly without damaging the long-term sustainability of the resource or the country's biodiversity. The bulk of Imavere's wood supply will come from its major shareholder, Sylvester Ltd, and also from Lumiforest. The former is regarded by the Estonian Forest Board as one of its most reliable partners. The company has continuously invested in modern environmentally friendly logging equipment and operates in compliance with logging regulations. Both companies can provide the logs required for operation of Imavere at full capacity in the year 2000.

Technical Cooperation


Company Contact



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

Share this page: