Establishment of Tier II crude oil spill response centres in key locations in the Bank’s countries of operation and provision of regional training, prevention and remediation services.
The Project is primarily an environmental project designed to promote responsible levels of oil spill response preparedness and higher levels of training, prevention and remediation. In addition to this vital impact for the Region, transition impact would result from
(i) Demonstration of (replicable) products and processes which are new to the economy
(ii) Increase in the private provision of goods and services and
(iii) Transfer and dispersion of skills.
Clean Globe International Oy, a limited company incorporated in Finland, a wholly owned subsidiary of the Sponsor, Lamor Corporation AB of Finland. Lamor is one of the world’s largest providers of quality oil spill equipment and is a long standing provider of equipment in the Bank’s countries of operations.
The loan facility will consist of a loan to the Company in the amount of up to EURO 30.5 million. The Company is also in parallel seeking to raise EURO 10 million loan from Finnfund .
The equity facility of EURO 3 million will be invested upfront to subscribe to shares in the Company. The Company is also in parallel seeking to raise EURO 3 million from NEFCO and EURO 1 million from Finnfund, both with similar conditions.
EURO 107 million.
Screened B/0. The establishment of an oil spill response and land remediation centres will have significant positive impacts in terms of providing ready access to oil spill clean-up equipment and services. Some historical contamination and non-compliance issues might be associated with the potential use of existing facilities such as landfills and hazardous waste incinerators. Also, there might be issues associated with the end-result of the oil spill response and clean-up operations such as disposal of oil contaminated soil, oil debris, etc. and an availability of proper facilities for disposal of hazardous waste. The environmental due diligence on the proposed project will be structured around the Environmental Procedures for Multi-Project Facility and, each individual Clean Globe International Centre will be screened individually and undergo appropriate level of the environmental due diligence prior to the disbursement of the EBRD funds. The Client will develop an Environmental Management System, that will set HSE standards and detailed procedures for commissioning appropriate level of environmental due diligence and environmental, health and safety audits, as well as for monitoring, incidents and accidents notification, reporting, HSE training and public consultation.
Mr Lasse Parvinen, President
Lamor Clean Globe International Oy
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