Aluflexpack III

Location:

Croatia

Project number:

50035

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Approval date:

23 May 2018

Status:

Disbursing

PSD disclosed:

30 Sep 2019

Translated version of this PSD: Croatian

Project Description

Provision of long-term financing to Aluflexpack Novi d.o.o., part of Aluflexpack Group and ultimately owned by Montana Tech Components AG, together with a local commercial bank.

Project Objectives

The loan proceeds are used to finance the company's capital expenditure into new production capacity that will further support development plans.

Transition Impact

The primary transition quality is Inclusive as the project focuses on promoting training and skills development through creating work-based learning opportunities for young people and establishing cooperation with local technical universities and vocational schools. The secondary transition quality is Competitive as the project further supports the cimpany's capex programme aimed at expanding production capacities and improving overall efficiency and profitability.

Client Information

ALUFLEXPACK NOVI DOO

Aluflexpack, a Croatian company is a niche player in flexible packaging segment in Europe producing containers, lids and other aluminium based products for food, pet food, pharmaceutical, confectionary and dairy industry.

Since December 2012, it is fully owned by Montana Tech Components AG, a Swiss-Austrian diversified industrial group.

EBRD Finance Summary

EUR 12,500,000.00

Total Project Cost

EUR 35,000,000.00

Environmental and Social Summary

Category B. Environmental and social due diligence (ESDD) was carried out in-house via E&S Questionnaire review and results of the previous projects' ESDD. The existing ESAP was updated to reflect additional impacts associated with the new project. The project is consistent with the GET approach, and the GET share is 4% related to EUR 1 mln capex used for the solvent recovery upgrade.

The E&S impacts of the new production lines at the AFP plant in Umag allowing a 50% capacity increase and respective solvent recovery plant output are associated with the site specific E&S issues that can be readily identified. The Project's E&S impacts are mainly related to air emissions (particulates, VOC, GHG, etc.), packaging waste and solvents management as well as occupational health and safety, labour policies and stakeholder engagement practices. The ESDD of the original AFP Project in 2012 and of Project Herakles in 2016 resulted in development of an ESAP to address the identified issues. The Company provided regular and timely updates on ESAP implementation as part of annual reporting. Umag operations are eligible under the EU Industrial Emissions Directive to comply with the BAT performance levels specified in the BREF for the Surface Treatment Using Organic Solvents, i.e. the VOC concentrations are within the limits, but current environmental permit will need to be updated to reflect capacity increase. Associated with the new project 30% solvents consumption increase will be matched by the same increase in recovered amounts. The existing ESAP was updated to add measures specific to the new production line in Umag.

The Company will continue to provide the Bank with annual environmental and social reports (AESR), including updates on the ESAP implementation. The Bank will evaluate the Project's environmental and social performance in accordance with the Bank's PR's through reviewing the Client reports and undertaking periodic monitoring visits when deemed appropriate.

Technical Cooperation

None.

Company Contact Information

Johannes Steurer
johannes.steurer@afp.hr
+385 52 703 348
+385 52 741 217
www.afp.hr
Dr. F. Tudmana 25, Murvica 23241 Policnik (ZD), HR # Croatia

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Text of the PIP

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. Requestors’ identities may be kept confidential, upon request.

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