DFF - Multisac II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of MAD 160m loan to finance construction of a new building, expansion of the current bags production and introduction of the Biaxially Oriented PolyPropylene (BOPP) production line.

Project ID 53828

Status Repaying

Location

Morocco

Business Sector

Manufacturing and Services

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Amine Korati
akorati@capholding.ma
+212 660 168 787
+212 537 745 058
www.multisac.ma
Lots 63 et 64 zone industrielle de Bouznika, Province Benslimane, 13100

Project ID 53828

Status Repaying

Location

Morocco

Business Sector

Manufacturing and Services

Notice Type

Private

Environmental Category

Approval Date

06 Dec 2022

Disclosure date

11 Dec 2022

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project description

Provision of MAD 160m loan to finance construction of a new building, expansion of the current bags production and introduction of the Biaxially Oriented PolyPropylene (BOPP) production line.

Project objectives

The Project supports expansion into a growing BOPP film production market, as well as further vertical integration.

Transition impact

ETI Score:60

etitive: BOPP production line will lead to increased productivity and higher vertical integration.

Green: The new building will be EDGE certified, setting international technical standards of sustainability and climate resilience.

Client information

MULTISAC SA

Multisac SA (the "Borrower" or the "Company") is a family-owned SME incorporated in Morocco. Multisac was created in 2006 and is specialised in the production of woven polypropylene bags. Multisac is an existing client of the Bank since 2018, with positive experience to date.

EBRD Finance Summary

MAD 160,000,000.00

Up to MAD 160m senior secured loan to finance the Project.

Total project cost

MAD 300,000,000.00

Total costs relate to construction of the new building, implementation of the Biaxially Oriented PolyPropylene (BOPP) activity and expansion of the current capacities.

Additionality

Additionality stems from the financing structure, EBRD's long-term relationship with the Borrower providing risk mitigation and environmental standard setting.

Environmental & Social Summary

Categorised B (ESP2019). Multisac is an existing client of the Bank with a reported satisfactory Environmental and Social performance under current exposure. Environmental and Social Due Diligence (ESDD) for this Project was based on the previous ESDD undertaken by ESD in 2018, and the review of the annual monitoring reports provided by the Company.

The assessment has confirmed that the Client has all the necessary permits in place and has demonstrated a commitment to environmental protection through developed policies and procedures. The factory is located in a regulated industrial zone, and the envisaged expansion will be done within the current site. Regular E&S risk assessments are conducted by external experts in line with local requirements. Multisac implemented the actions identified in the previously agreed ESAP, and have as a result enhanced their Environmental, Health and Safety and Social management system and resources. The current ESAP has been updated with the requirement to undertake an EHS risk assessment of the envisaged new building and the production capacity increase.

The project is considered aligned with the mitigation objectives of the Paris Agreement following further assessment of ability of products to be reused/recycled.

ESD will continue to monitor the Client through the review of annual E&S reports.

Technical Cooperation and Grant Financing

The Project benefits from a guarantee and TC from the European Fund for Sustainable Development (EFSD) Municipal Infrastructure and Industrial Resilience (MIIR) Guarantee Programme.

The programme contributes to transitioning economies in the European Neighbourhood South and European Neighbourhood East by supporting sustainable investments in green city infrastructure, greening logistics chains, energy efficiency and green technology transfers in industrial processes, commercial operations and buildings.

Company Contact Information

Amine Korati
akorati@capholding.ma
+212 660 168 787
+212 537 745 058
www.multisac.ma
Lots 63 et 64 zone industrielle de Bouznika, Province Benslimane, 13100

PSD last updated

11 Dec 2022

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, 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 the 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 more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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DFF - Multisac II

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)