INTERGLASS LLC

Location:

Kyrgyz Republic

Project number:

34616

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Approval date:

02 Nov 2004

Status:

Completed

PSD disclosed:

28 Sep 2004

Project Description

The proposed project involves implementation of a new investment program targeted to increase efficiency and profitability of operations at  the float glass plant owned by Interglass Ltd. and located in Tokmak, Kyrgyz Republic.
The investment program includes introduction of two new production lines – silver mirror glass and tempered glass lines, which will add value to the current flat glass production, the purchase of standby generators, energy efficiency investments  and additional working capital to serve increasing production and sales.

Transition Impact

a) The proposed project will increase competition in mirror glass and tempered glass sectors in CIS countries.
b) Enhance  environmental standards and energy efficiency through development of Environmental Action Plan to achieve compliance with the EU standards, and an energy audit and review for implementation of energy saving investments.
c) Improve  corporate governance through introduction of IFRS annual reporting and new cost and management control systems.

The Client

Interglass Limited Liability Company, registered in the Kyrgyz Republic, a 100% owned subsidiary of Steinert Industries GmbH & Co KG (Germany).

EBRD Finance

€ 5.5 million senior loan, with a 7-year tenor.

Project Cost

€ 13.7 million

Environmental Impact

The project was screened B/1 requiring an environmental analysis and audit.  Environmental due diligence, including a site visit carried out by the Bank’s Environmental Specialist, confirmed that a range of environmental, health and safety (EHS) issues in particular, control of emissions of oxides of nitrogen (NOx) and sulphur (SOx) are associated with the operation. Stack emissions indicate relatively high levels of particulate matter and monitoring and control of stack emissions will be addressed in an environmental action plan (EAP) to be agreed with the Company. The Company however, has made significant progress in addressing the control of dust pollutants inside the facility. General housekeeping throughout, including the management of health and safety, is excellent. This project may provide significant opportunities for introduction of energy efficient/conservation measures and the Bank is working closely with the Sponsor to develop a range of energy saving initiatives.  

Technical Cooperation

The Company will benefit from an energy efficiency audit conducted under an existing framework contract with a Greek consulting firm Energo, The TC work will be financed by the Greek Government.  The total value of the framework is € 200,000; expenditure for this assignment will be € 20,000  For consultant opportunities for projects financed by technical cooperation funds, visit procurement of consultants.

Company Contact

Mr. Vladimir Steinert 
Interglass Ltd.
551, Frunze street, Bishkek, Kyrgyz Republic, 720001
E-mail: info_kg@steinertind.com
Web-site: www.interglass.kg
Tel. + 996 312 902 649; +996 302 902 650
Fax. + 996 312 902 653
 

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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