Financing of DM 10 million to modernise the existing cotton production line at Aquasava d.o.o. through the replacement of old equipment and to expand the cotton product range through the purchase of new cotton weaving equipment.
The project is effectively a continuation of the existing Aquasava1 project signed in 1994. This consisted of the modernisation and upgrading of the production facilities of the cotton spinning and weaving operations, the polyester weaving and the nylon twisting and heat-setting sections. Aquasava2 has the objective of investing in equipment which will: (i) increase the company's competitiveness in the cotton spinning sector, while also increasing the production capacity of cotton weaving products; and (ii) expand the production capacity of polyester weaving and printed products, while targeting the high added-value market segment.
The EBRD's investment in the company will strongly promote the development of the private sector, and in particular of a good blue-chip textile company at an important strategic phase in its development. Aquasava will be able to stand alone in the cotton and polyester markets after benefiting from the investment, while building up strong competitive advantages against western European producers in the high-quality segment of the market.
Aquasava d.o.o., Kranj, Slovenia.
DM 10 million: DM 7 million in the form of a subscription to a quota of Aquasava's shareholder capital and DM 3 million in the form of a secured senior loan.
DM 21.66 million (ECU 11.16 million).
The project requires an Environmental Audit and Analysis to examine the impact of the Bank's investment. The project focuses exclusively on the provision of new machinery, all of which will be in compliance with EU standards for environment and safety.
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