Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

30 Sep 2009



PSD disclosed:

20 Aug 2009

Project Description

The proposed project is designed to support Centravis in restructuring its balance sheet and improving its equity position. The EBRD will introduce an adequate financing structure to help Centravis cope with the crisis and improve its debt service capacity.

Transition Impact

The project transition impact will derive from the following key areas:

  • Demonstration effect of successful balance sheet restructuring
    The Project will improve Centravis’s balance sheet through both an equity base increase and introduction of a proper proportion between short-term and long-term debt.
  • Introduction of international environmental standards in the seamless stainless tubes and pipes sector
    The Project will further improve environmental standards of Centravis by installing advanced international technology and equipment, which meet EU environmental standards, and implementation of the Environmental Action Plan.
  • Improvement of corporate governance standards
    The EBRD involvement will strengthen the corporate governance standards as well as stimulate Centravis to improve its both ownership and corporate structure.


The Client

CJSC “Centravis Production Ukraine” is a leading Ukrainian producer of seamless stainless tubes and pipes. Centravis is also one of the world leaders in the segment.

EBRD Finance

The Bank will provide a financing package to Centravis, consisting of equity investment up to EUR 10 million and a loan of EUR 48 million, of which EUR 33 million will be syndicated to Erste Bank and HVB-Unicredit Group.

Project Cost

EUR 67 million

Environmental Impact

Screening category and justification

The project was categorised as B (2008), requiring an Environmental and Social Due Diligence (ESDD), consisting of an environmental analysis of the proposed investment programme and an environmental audit of the existing production facilities.

Due diligence undertaken and outcomes

The ESDD was undertaken by independent consultant and site visits by ESD. The ESDD has confirmed that the Company has a good environmental and social management system and has the capacity to fully implement the Bank’s Performance Requirements (PRs) of Environmental & Social Policy.

Centravis’s current and planned operations are in compliance with national legislation and the planned investment programme is structured to meet both national and EU environmental standards. The Company has a good Environmental, Health and Safety Management systems, which are certified to the ISO 14001 and OHSAS 18001 standards respectively. In terms of social aspects, the Company has good Human Resource management system and is addressing social and labour issues in line with national requirements as well as corporate standards that meet the Bank’s PRs of Environmental & Social Policy. The Company is going beyond national legislative requirements in terms of its retrenchment programme and providing assistance and compensation to workers.

An Environmental and Social Action Plan (ESAP) developed and agreed with the Company based on the ESDD. This requires further strengthening of existing management systems, notably in terms of Human Resources policies and the development of an integrated Corporate Retrenchment Policy by the end of 2009. The Company has also committed to undertake investment to improve the operations of the wastewater treatment company in which Centravis has shareholding as well as investment in reducing emissions from acid pickling facilities and ventilation systems.

A stakeholder Engagement Plan (SEP) has been developed by the Company in line with PR10.

Implementation requirements

  • The Company will implement the ESAP (as agreed with the Company) and improve Environmental and Health & Safety Management Systems.
  • The Company will provide the Bank with an Annual Environmental and Social Report, including updates on the ESAP, and notification on any material accidents or incidents.
  • The Company will facilitate periodic monitoring visits by the Bank’s staff or appointed representatives when deemed necessary. 

Technical Cooperation


Company Contact

Mr Andrzej Szczepek, CFO

CJSC “Centravis Production Ukraine”
1a Clara Zetkin Street, Dnipropetrovsk, Ukraine

Telephone: +38 0562 334767
Telefax: +38 0562 334773
Email: szczepek@centravis.com

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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

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