Translated version of this PSD: Ukrainian
A senior secured long-term loan of up to US$ 25 million to finance development of the Astarta's grain and sugar infrastructure.
The Project will support the Group's long-term strategy to develop and modernise the existing grain and sugar infrastructure, thereby achieving greater operating and production efficiency, while lowering costs.
The transition impact of the Project is expected to derive from significant environmental and energy efficiency benefits, which will arise from the replacement of old inefficient storages with modern silo facilities, thus contributing to Green Economy Transition.
Astarta Group is one of the largest vertically integrated agricultural companies in Ukraine, operating eight sugar plants, around 250,000 hectares of leased arable land, as well as dairy farms, and engaged in soybean processing.
EBRD Finance Summary
The EBRD will provide up to US$ 25 million secured loan to Astarta.
Total Project Cost
Environmental and Social Summary
Categorised B (2014 ESP). The environmental and social impacts of the construction of grain silos can be readily identified and are largely restricted to the boundaries of the company's facilities. Due diligence included an appraisal of the project and a high level audit of the associated facilities, carried out by independent consultants, plus a review of Astarta reporting and implementation on other EBRD investments.
The Project involves the construction and acquisition of six grain storage facilities with a total capacity of 480,000 tones and the construction of one sugar storage facility with a total storage capacity of 50,000 tones. The new storage facilities will be located in Poltava, and Khmelnitsky.
All of the project components will be constructed on undeveloped land or the existing logistics sites. No additional land acquisition or resettlement is anticipated. Potential impacts will relate primarily to occupational safety risks during the construction and to dust emissions during the loading and unloading of grains and sugars. There will be some air emission sources associated with heat generation for grain drying. The company will need to develop and implement contractor management plans for the construction phase and the project design will include dust suppression measures. Dust abatement and temperature monitoring technology will also be used to manage fire and explosion risks.
Astarta operates an integrated labour protection, industrial safety, environmental protection and energy management system. The EHS management systems are in line with ISO14001 and OHSAS18001 standards. Collective agreements are in place between the company and the trade unions. Astarta's environmental and social performance on other EBRD projects has generally been good and the company provides comprehensive annual reports. For this project, a Non-Technical Summary (NTS), Stakeholder Engagement Plan (SEP) and Environmental and Social Action Plan (ESAP) have been developed. Implementation of the ESAP will allow the project to fully meet the EBRD's Performance Requirements. It includes actions to improve contractor safety management and implement mitigation measures for dust and pollution
management. The EBRD will monitor the project through annual report provided by the company.
Company Contact Information
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