The provision of a senior secured loan of US$ 2.8 million to IE "Tach Hil", a Turkmenistan based producer of hygienic products and plastic bags. The loan will partially finance the procurement of equipment to upgrade the production efficiency of hygienic products' line and to diversify product range. It will help purchase moulding machines for the PET bottles and equipment for the production of plastic bags and to finanace working capital needs.
The objective of the project is to invest in equipment of hygienic products and plastic bags to help Tach Hil increase products range.
ETI score: 80
The jroject will help the Tach Hil expand its product range and improve labour productivity contributing to the "Competitive" quality and improve export potential of the new products under the "Integrated" quality.
TACH HIL IE
Tach Hil is a sole proprietorship type company incorporated and operating in Turkmenistan and engaged in the production of hygienic products and plastic bags.
EBRD Finance Summary
US$ 2.8 million senior secured loan to IE "Tach Hil".
Total Project Cost
The EBRD is providing financing in US dollars, the availability of which which is scarce in the local market, with a loan tenor which is longer than otherwise available locally.
Environmental and Social Summary
Categorised B (ESP 2014). The production of household products is associated with a limited number of environmental and social impacts, which can be readily identified and managed through appropriate mitigation measures. Issues to be considered include product quality and safety, management of hazardous and non-hazardous chemicals, water use and waste disposal, solid waste management and occupational health and safety. Management of these issues within the Company is largely focussed on compliance with national legal requirements and the company has adequate staffing and systems in place to ensure the compliance is maintained. To better address key environmental and social impacts the Company has implemented a number of best practice management systems to improve its production process including ISO 9001 for quality, ISO 14001 for environment and ISO 22716, which provides guidelines for the production, control, storage and shipment of cosmetic products. The Company also operates a health and safety management system according to OHSAS 18001 to ensure appropriate management of occupational health and safety issues. Together, these systems help to ensure that the Company complies with the Bank's Performance Requirements (PRs). The Company should continue to ensure compliance with the PRs and provide annual reporting on E&S matters to the Bank.
Technical Cooperation and Grant Financing
The Project will include Technical Cooperation (TC) component for local outside counsel, which will partially cover (50%) the total legal due diligence costs of €14,285.
Company Contact Information
Mr Tachmurad Gurdov
Zumerret st. 38, Industrial Zone, Ak Bugday district, Ahal region, Turkmenistan
PSD last updated
02 Jul 2021
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