Translated version of this PSD: Russian
The EBRD is considering extending a secured loan to JSC Olzha, a private freight wagon operator in Kazakhstan. The proceeds of the loan will be used for:
1) The acquisition of new freight railcars and
2) The refinancing of existing debt.
The Kazakh freight wagon market remains dominated by the state sector. By supporting Olzha purchasing additional railcars, the Project will contribute towards increasing the share of privately held wagon fleets in Kazakhstan.
The Project will also contribute to fostering the lease market which remains underdeveloped in the railway sector in Kazakhstan.
Moreover, the proposed loan will also set new up-to-date business standards (ISO standards).
The company’s activities include: lease of railcars, transportation and sales of liquefied petroleum gas (LPG) and oil products (mainly diesel and gasoline).
The company operates about 1,400 wagons, mostly LPG and oil tanks.
A senior secured loan of USD 24.8 million.
The EBRD is considering extending final maturity of the loan.
USD 32.8 million.
Categorised B. Environmental and social due diligence (ESDD) will focus on reviewing the Company's existing environmental and social management systems and procedures which the Company is applying to its railcar leasing operations in the areas of environmental protection, occupational health and safety, human resources, contractor management and stakeholder engagement. A risk-based review of the Company's other activities and operations as well as of the use of the wagons by the lessees for transportation of LPG and petroleum products for apparent E&S and reputation issues will also be undertaken. Environmental, health and safety issues are mainly associated with the maintenance and use of railcars usually undertaken by third parties. The due diligence should review contractual mechanisms regulating potential lessees' environmental and social performance to mitigate exposure to potential reputation risk associated with use of the Client's rolling stock by third parties. An Environmental and Social Action Plan will be developed for identified impacts and agreed prior to Final Review.
Mr Arman Beissekov,
Deputy CEO on Economy and Finance
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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