The proposed loan will enable the JSC Autocrane to complete its capital expenditures programme at the plant in Ivanovo aimed at improving production quality and efficiency and consisting of
(a) purchase and installation of a new state-of-the-art robotised manufacturing line to produce profiled booms (telescopic crane arm);
(b) purchase of various welding and metal cutting equipment to replace outdate assets. Some part of the Bank’s financing will be used to refinance a portion of the Company’s short term indebtness.
The transition impact potential of the Project is derived primarily from strengthening JSC Autocrane business practices with special regard to operational efficiency. The demonstration effect of successful installation and use of the modern technology is another potential transition benefit of the Project.
Through the above channels the Project is expected to set good examples for other companies in the sector and the region in need of further technical modernisation and improvements of their business standards.
Joint Stock Company “Autocrane” is a leading Russian machine building plant producing mobile cranes and slewing rings.
The EBRD will provide a long term loan for an amount of up to USD 35 mln to JSC Autocrane.
USD 35 million.
Screened B according to the 2008 environmental and social policy. Environmental due diligence did not identify any significant issues and confirmed that the new project will have limited environmental and social impacts. Autocrane has obtained all necessary permits for the reconstruction and the installed equipment and machinery will comply with EU standards. The Company's HR practises and EHS management procedures are in accordance with the Bank's Performance Requirements. The Company will disclose locally an environmental summary by end of March.
OJSC Autocrane, Ivanovo, str. Nekrasova, 61
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