Translated version of thid PSD: Russian
PSA Peugeot Citroën and Mitsubishi Motors Corporation (the “Sponsors”) are building a car factory in the Kaluga region. The SKD phase was launched in March 2010. When fully operational in 2013, the factory will employ around 3,000 people with a planned capacity of up to 125,000 units per year. The cars produced will be mid-sized passenger cars and SUVs sold under the brands Peugeot, Citroën and Mitsubishi.
The Project will have a substantial impact on training and skills in the Kaluga region and beyond. The Sponsors have already started to implement a large training programme necessary to bring the intended 3,000 staff up to their standards.
The Sponsors intend to source components locally to the extent possible. The size of the plant will foster the growth of the auto parts suppliers’ industry in Russia, a development which holds the key to making the local automotive industry competitive as a whole. The localisation of content is likely to take place through international suppliers, who will bring their own technology and expertise to Russia, as well as through Russian suppliers. The interaction with PCMA Rus, a highly demanding client on quality, reliability and price issues, will set a challenging benchmark for suppliers.
PCMA Rus, a LLC located in Kaluga.
PSA Peugeot Citroën is Europe’s second largest maker of passenger cars with sales of EUR 48.4 billion in 2009.
Mitsubishi Motors Corporation is the sixth largest automaker in Japan with sales of EUR 11.0 billion in 2009.
A senior syndicated loan of up to EUR 320 million.
EUR 500 million plus working capital.
Environmental classification and rationale
The project is categorised B. The construction and operation of an automobile manufacturing plant is associated with a number of site specific issues, which can be readily identified, assessed and mitigated through measures as defined in the Environmental and Social Action Plan.
Key environmental issues and mitigation
Due diligence has been carried out on the Company operations by means of discussions with management around policies, procedures and performance against environmental and health and safety regulations; and the corporate activities undertaken with regard to stakeholder engagement. The operations will be undertaken under the PSA Group global EHS standard which will meet the requirements of ISO 14001 and OHSAS 18001. All planned operations and products will be compliant with both Russian and EU requirements. Certain areas were identified that require to be addressed to bring the operations into compliance with the Bank’s Environmental and Social Performance Requirements (PRs) and these issues have been addressed via the drafting of an Environmental and Social Action Plan (ESAP) which has been being agreed with the Company.
Summary of Environmental Action Plan
The Company will be required to adhere to the Bank’s PRs. specific actions include the drafting of a Stakeholder Engagement Plan in line with the Bank’s PR10; provision of appropriate training to all staff; and the drafting and implementation of an Emergency Response Plan.
Monitoring and reporting
The Company will monitor the environmental impact of its operations in accordance with national law and regulations. The Bank will evaluate the project's compliance with the applicable environmental and social requirements during the lifetime of the project by reviewing annual environmental reports prepared for the project.
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