The EBRD has provided senior loans of up to EUR 16 million to two companies within TeraPlast Group (the "Group"), to support the expansion of the Group steel segment business in Romania and the CEE region:
(i) Wetterbest SRL (former Depaco SRL): EUR 5 million for financing a new roof systems production and storage facility in Romania;
(ii) TeraSteel: EUR 11 million for the refinancing of the costs with setting-up the operations in Serbia for metallic sandwich panels production and developing the CEE presence of the company;
Support the expansion of TeraPlast Group steel segment business in Romania and CEE area and support work-based learning opportunities to local youth in Romania as well as improve Group's Corporate Governance.
ETI score: 80
This project will make a significant contribution to additional technological skills transfer via enhance its training offer in close collaboration with established local training providers to offer accredited dual learning and other work-based learning opportunities to local youth. The company also engaged to improve its Corporate Governance by implementing various measures directed at improving company's procedures, internal regulations and transparency.
TeraPlast Group is one of the leading manufacturers of materials for construction and installation markets in Romania, with production sites in two countries, Romania and Serbia. The production of the Group is structured in two main business lines: plastic division and steel division (which include metallic sandwich panel and metallic roofing activities).
EBRD Finance Summary
EBRD Finance Summary:
Wetterbest SRL: EUR 5,000,000
TeraSteel CEE: EUR 11,000,000
Total Project Cost
Total Project Cost:
Wetterbest SRL: EUR 9,200,000
TeraSteel CEE: EUR 19,400,000
Environmental and Social Summary
Categorised B (2014 ESP). The environmental and social issues associated with balance sheet refinancing and provision of capex addressing the expansion of TeraPlast Group's steel segment business in Romania and the CEE area can be readily identified and managed. Due diligence, carried out by ESD, focused on TeraPlast Group's existing management systems, current facilities and operations. An ESAP has been developed and agreed with the Company to ensure the project complies with the Bank's PRs.
The ESDD included a review of the E&S Questionnaire, the Company's policies and procedures, a site visit to the production facilities in Saratel and Bistrita and interviews with relevant management staff. Identified issues that need to be addressed include a lack of formal corporate grievance mechanism; inadequate on-site traffic and pedestrian management, and exceedance of permitted noise and dust limits in the Romanian industrial park; and outstanding environmental and other permits for the new facility, and it's inclusion in the existing IMS system of the Company.
As stated above, an ESAP has been developed, and agreed with the Company to address these issues. The specific measures include the inclusion of a new facility into the existing IMS; obtaining the required permits and development of a Construction Environmental and Social Management Plan for the new facility prior to construction; development of a Traffic Management Plan for the Romanian industrial park; bringing and maintaining the microclimate working conditions within permissible levels in all the Company's facilities; and the development of a formal corporate grievance mechanism.
Technical Cooperation and Grant Financing
Company Contact Information
+40 725 809 498
Saratel village, Sieu-Magherus commune, Bistrita-Nasaud county, DN 15A, km 45+500, 427301, Romania
PSD last updated
12 Dec 2019
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More information on the EBRD’s practices in this regard is set out in the ESP.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requesters’ identities may be kept confidential, upon request.