Translated version of this PSD: Russian
A senior loan to the State Unitary Enterprise "Rohi Ohani Tojikiston" (Tajik Railways) to finance the acquisition of general purpose freight wagons and locomotives (the "Project"). The Project is part of a multi-staged Rolling Stock Renewal Programme to renovate Company's ageing fleet.
The procurement of general purpose freight wagons, main line and shunting locomotives. Under the Rolling Stock Renewal Programme, to be implemented in multiple stages the Company needs to replace over 2,000 freight wagons and over 40 diesel locomotives. The Company has already
replaced over 900 freight wagons and 8 diesel locomotives.
The transition impact of the Project is expected to come from (a) the enhancement of the Company's corporate governance practices by the introduction of International Financial Reporting Standards (IFRS), Environmental and Social Action Plan (ESAP), and (b) the development of Company's midand long-term business plan, as well as policy dialogue on further corporatisation of the Company and adoption of the advanced energy efficiency technologies and practices in the railway sector
TAJIKISTAN RAILWAYS SUE
Rohi Ohani Tojikiston (Tajik Railways), a vertically-integrated railway company fully owned by the Government of Tajikistan.
EBRD Finance Summary
A senior loan of up to US$ 26 million (€ 22 million) to the Company
Total Project Cost
Project costs are expected to be US$ 109 million (€ 92 million)
Environmental and Social Summary
The project has been categorised B and is unlikely to present significant Environmental and Social (E&S) impacts. Environmental and Social Due Diligence (ESDD) has now commenced using a project specific questionnaire and will include a review of the company's corporate E&S arrangements. The Bank will also review the company's E&S procedures, management system for the rail operations, current and past E&S performance, rail safety and maintenance arrangements for rolling stock.
The E&S risks associated with the materials to be transported in the wagons will also be confirmed. The ESDD is not yet complete, however should any improvements and mitigation measures be required to meet the Bank's Performance Requirements, this project will be included in an Environmental and Social Action Plan and agreed with the client.
Following the completion of ESDD an update will be made on findings and reflected in this PSD.
The following technical cooperation (the "TC") assignments are envisaged as part of this project:
Technical due diligence including review of the industry, company's operations, financial and economic analysis of the proposed investments (US$ 73,000 financed by the EBRD Shareholder Special Fund ("SSF")).
- Financial due diligence (US$ 27,410 financed by the Bank's own resources).
Project Implementation Support. International consultant to support the Project Implementation Unit with detailed engineering design and approval, procurement, preparation and evaluation of tenders, contract award and administration, financial control, project management and reporting.
The estimated cost of the assignment is up to US$ 200,000 proposed to be financed by an international donor, or the SSF.
- Corporate Development Support Programme. The estimated cost of the assignment is up to US$ 450,000 proposed to be financed by an international donor, or the SSF.
Company Contact Information
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Tel: +44 20 7338 7168
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