Proposed loan to support the long-term development of Bor Glass Works located in the Nizhny Novgorod region. The main rationale for EBRD’s involvement in this transaction is to provide ongoing support for the long-term investment programme of Bor Glass Works.
The EBRD’s investment will provide ongoing support to the development of Bor and to the Russian glass industry as a whole. The transition impact of the project falls into two main categories: continued improvement of skills and increased competition in Bor's own and other sectors. Glaverbel continues to bring better Western management skills, including financial, marketing, procurement and environmental management to Bor Glass Works. The introduction of green glass into the Russian market and the completion of the auto-glass investments will increase the competitiveness in the current auto-glass market and Russian automotive exports.
Bor Glass Works is the leading producer of float glass in Russia. It is the leader in the auto glass and quality construction glass markets and also produces mirrors, double-glazing and tableware. It is located in the town of Bor on the opposite side of the Volga River to Nizhny Novgorod, 500 kilometres east of Moscow. The EBRD and the International Finance Corporation (IFC) each invested US$ 15 million in 1997 in the equity of Bor Glass Works in a Glaverbel-led consortium that acquired a 75 per cent controlling interest in Bor Glass Works. Glaverbel is a large European glass producer that is a subsidiary of the world's largest glass producer, Asahi Glass Co.
A US$ 25 million (€28 million) long-term loan alongside a similar facility from IFC for the proposed investment programme. This will include the cold repair of a float glass line and new investments in the flat glass and automotive glass production processes.
US$ 84 million (€95 million) over 4 years.
The project was screened as B/0, requiring an environmental analysis. The environmental action plan, which was developed for the equity investment, is completed. This investment will complete the two float furnace cold repairs started in March 2000. These cold repairs significantly reduce the nitrogen-oxide emissions. Environmentally friendly materials will replace the asbestos rollers currently used on the line. These repairs also result in significant energy efficiency gains (approximately 30 per cent on previous performance).
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (firstname.lastname@example.org) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.