Translated version of this PSD: Russian
OMA LLC is a leader in the DIY (Do-It-Yourself) retail and wholesale market in Belarus established in 1992. OMA's DIY retail chain consists of 12 stores in key cities of Belarus with a total area of more than 25,000 sqm and offers up to 45,000 varieties of products. The Project assumes expansion of the retail chain to regions of Belarus during 2016-2018. Total project Capex is ca EUR 52M.
The EBRD is considering a senior secured loan of up to EUR 24.0 million to OMA. The loan will be used to construct modern DIY stores in different regions of Belarus.
As a result of the Project implementation, the Borrower expects to increase penetration of modern retail format to the regions of Belarus and increase efficiency of its logistics, reduce inventory costs and upgrade its business processes, which will increase the competition across the sector in general, and market prices in particular.
OMA is a limited liability company incorporated in Belarus, which is currently controlled by the Belarusian individual shareholders. The shareholders founded the business 20 years ago and until now have held key management positions in the Company
EBRD Finance Summary
A 7-year senior secured loan for up to EUR 24 million (equivalent to USD 25.7 million)
Total Project Cost
Environmental and Social Summary
The Project was categorised B under the 2014 Environmental and Social Policy. The project will not be associated with any significant environmental and social impacts.
Due diligence was conducted based on a desk review of the Environmental and Social questionnaires and supporting documents provided by the Company as well as discussions with Company management. Due diligence covered both existing retail and wholesale operations and the original plan to purchase a newly, purpose-built warehouse. The subsequent changes in the capex plan and re-orientation of investments toward store expansion did not require any additional due EHSS diligence to be undertaken.
While the Company's environmental management is currently limited to implementing permit requirements, the OHS management is more advanced and can readily be tailored to fit OHSAS 18001 requirements for certification. Additional EHSS management capacity is necessary at the corporate level and in all stores and warehousing facilities, and contractor as well as supply chain management will need to be formalised. All asbestos-containing products will need to be identified and removed from the Company's product lines. Finally, human resource policies will need to be reviewed to affirm core workers' rights, notably freedom of association and collective bargaining, and a formal worker grievance procedure. These measures have been included in an ESAP that has been agreed with the Company.
Company Contact Information
Marina Rulko.B, Head of Treasury of OMA.
+375 17 344 93 03
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