The proposed project is a construction and operation of a porcelain tiles production facility near town of Serpuhov, in the Moscow region.
The Project’s Transition Impact is likely to derive from supporting the regional expansion of its Turkish Sponsor, the stimulation of competition on the local market and the creation of new linkages with local suppliers and customers, as well as the demonstration effect of environmentally sound practices in the Russian Federation.
Training programmes, innovative business processes and capital investments in modern machinery will also contribute to a skills transfer.
OOO Vitra Plitka is a wholly owned subsidiary of Vitra Tiles, one of the largest Turkish producers of tiles. Vitra Tiles belongs in the diversified Turkish conglomerate of Ezcasibasi Group.
EUR 9 million senior loan.
EUR 21.4 million.
The environmental and social impacts associated with this project are limited and can readily be identified and addressed through mitigation measures; therefore, it was screened as B/0 (2003). Environmental due diligence did not identify any significant issues associated with the development and operation of this project. It confirmed that Vitra has obtained all necessary permits for the construction and the installed equipment and machinery will comply with EU environmental standards. For the construction management the Company uses Baras, Russian-Turkish JV. The Company's policies and operational procedures are satisfactory albeit not formalised. The Company has agreed to formalise these procedures; particularly those relating to managing contractors and sub-contractors. The Bank will monitor this project through the review of Annual Environmental Reports submitted to the EBRD. Monitoring visits by Bank staff or appointed representatives will be undertaken, if deemed necessary.
Kanyon Office, Buykdere Caddesi 185
Levent 34395, Istanbul, Turkey
Phone +(90 212) 371 7000
Fax + (90 212) 371 7144
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