Project Description
The proposed project will finance the expansion of the fleet of rolling stock owned by OOO Huolintakeskus by providing medium-term lending for the acquisition and refinancing of wagons for transport of timber and wood chips. The project is important for the development of commercial traffic between Northwest Russia and Finland, while encouraging private ownership of rolling stock in line with rail sector reform in Russia.
Transition Impact
The project encourages private ownership of rolling stock in line with one of the reform objectives of the recent railway sector reform in Russia. Private entrepreneurship will also increase the provision of value-added logistics services alongside transportation, and orientation towards customer needs of forestry companies as clients of the Borrower. Know-how of the more value-added services provided will be increasingly transferred to the local workforce employed.
The Client
OOO Huolintakeskus is a company registered under the laws of the Russian Federation and based in St. Petersburg. It is majority-owned by John Nurminen Oy of Finland and specialises in providing railway transport and logistics services to the forestry industry in Northwest Russia, in particular on routes linking the region to the Finnish border.
EBRD Finance
RUB 554.4 million senior loan to OOO Huolintakeskus.
Project Cost
RUB 800 million.
Environmental Impact
Screened C/0. The purchase of new stanchion wagons is not associated with significant environmental impacts. JN will conduct its business with due regard to the environment and public and occupational health and safety and in compliance with Russian environmental laws and regulations. Annual environmental, health and safety reports will be submitted to the Bank.
Technical Cooperation
None.
Company Contact
Antti Sallila
Director, Finance
Nurminen Logistics
Pasilankatu 2
P.O. Box 124
FIN-00241 Helsinki, Finland
Tel: +358-010-54500
E-mail: antti.sallila@nurminenlogistics.com
Website: www.nurminenlogistics.com
Business opportunities
For business opportunities or procurement, contact the client company.
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Text of the PIP
