The proposed project relates to (i) the acquisition of profitable construction material producers and aggregate businesses, both domestically and abroad; and (ii) the investment in modernisation of production lines within the Group. The project supports NasiceCement's strategy aimed at becoming one of the key regional players in production and supply of construction materials.
The project is expected to have an impact on the transition process in the following key areas:
promotion of cross border investments and regional links by supporting a Croatian construction material producer in its expansion into neighbouring countries;
contribution toward the economic reintegration of Croatia;
improvement of the environment in the cement and building materials sector through compliance with the Bank's environmental requirements; and
promotion of high standards of corporate governance and good business practice through working with NasiceCement.
NasiceCement, a locally owned company, is the second largest and only independent cement producer in Croatia. The Company holds about 35% of the Croatian cement market and exports certain quantities of cement to the nearby Bosnian market. NasiceCement has also successfully acquired several ready-mix and brick production companies.
€20 million long term loan.
€60 - 65 million.
The project was screened C/1. The project will provide NasiceCement Group with the possibility to expand by acquiring construction material producers, ready-mix operations, quarries, etc.
The NasiceCement Group environmental procedures will need to be prepared for future investments and acquisitions. Environmental due diligence on the future investments and acquisitions, will be carried out to assess their impacts and to bring these facilities into compliance with EU, Croatian and the investee country's environmental standards.
NasiceCement has been providing environmental, health and safety reports to EBRD since 2001. The Company is ISO 9002-certified and is in the process of obtaining environmental management ISO 14000 certification. The level of environmental, health and safety protection in the NasiceCement and its auxiliary processes, based on the evidence provided by NasiceCement and the visit of the EBRD's environmental specialist, has been improving since 1998. The company has valid air emission, effluent discharge and hazardous waste management permits issued by the Croatian Ministry of Environment and Physical Planning.
Mr Ivan Skoric
Member of the Management Board
Tel: +385 31 609 009
Fax: +385 31 609 029
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