The proposed project is financing an affiliated company of Louis Dreyfus Commodities Group (the “LDC Group”), which controls a majority stake in Ruselco, a silo operating company in Russia.
The Project will finance investments in infrastructure for the storage, transport and subsequent export of agricultural commodities in Ukraine and Russia in order to develop agricultural operations in Ukraine and Russia and increase LDC’s sourcing and export capacity for agricultural commodities.
The Project is part of EBRD’s Private Sector for Food Security Initiative, which was put in place to facilitate private sector investment to increase food production. The main impact of this Project relates to market expansion via investments in storage and transport infrastructure for soft commodities which will encourage an increased number of farmers to utilise the facilities and services. The Project will also have demonstration effects in the sector derived from the restructuring of local infrastructure assets and the introduction of energy efficiency measures. Finally, the Project will strengthen EBRD’s policy dialogue in the grain sector.
An affiliated company of LDC Group.
Financing of an affiliated company of LDC Group for the ultimate benefit of Ruselco.
The project has been screened B. Environmental and social due diligence (ESDD) will focus on both the Sponsor’s and Ruselco’s existing EHS management practices and how these will be applied to the project. The project involves a number of different elements including the acquisition and modernisation of grain silos and elevators, and the purchase and operation of various transport means including rail trucks and ships. While these elements maybe associated with a range of environmental and social issues these are not anticipated to be significant and can be readily managed through the application of good EHS management and any necessary mitigation measures. LDC has begun the roll-out of a comprehensive world-wide Safety, Health and Environment (SHE) Management System with core elements on Leadership, Plant Inspections, Accident Investigations, Emergency Planning, Rules and Regulations, Training, Use of Personal Protective Equipment (PPE), Industrial Hygiene and Occupational Health, and Engineering Controls. Ruselco’s management team has prepared an in-house manual for “Corporate Management Practices” (CMP) which addresses issues of corporate environmental, health and safety policy, as well as labour standards. This CMP document includes the “Guidelines/policy on Occupational Health & Safety at Ruselco’s Elevators” and “Guidelines/policy on Environmental Safety at Ruselco’s Elevators”. This has been previously reviewed by EBRD and found to be satisfactory.
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