RISING STAR MEDIA

Location:

Russia

Project number:

34436

Business sector:

Information and Communication Technologies

Notice type:

Private

Environmental category:

C

Target board date:

16 Dec 2003

Status:

Completed

PSD disclosed:

27 Oct 2003

Project Description

The project is to support OOO Rising Star Media, a Russian subsidiary of National Amusements, Inc., for the opening and operating of 5 multiplex cinemas in Moscow and St.Petersburg in 2003-2005.

Transition Impact

Through its investment EBRD will:
  • support the development of infrastructure for a modernising and fast growing media sector. Cinemas will help to create traffic and extend opening hours of the shopping mall. This is both critical to the success of modern retail and efficient use of urban infrastructure including parking lots and access facilities.
 
 
  • support the entrance of a strategic investor, a leading international cinema operator,in to the Russian market, and promote competition and contribute to establishing high industry standards in the sector;
 
 
  • support the development of affordable, safe, good quality entertainment and cultural options for the Russian middle-class and young people;
 
 
  • support the development of a legitimate media distribution channel which will supply affordable media products and indirectly contribute to counter piracy.

The Client

OOO Rising Star Media is a Russian subsidiary of a partnership between Soquel Ventures Ltd. and National Amusements, Inc.
 
Soquel Ventures Ltd is owned by Paul Heth, who developed the first western style theatres in Russia in the 1990's and the CineBridge theatres in the U.S. with National Amusements, Inc.
 
National Amusements, Inc. is a leading cinema operator in the U.S., the U.K., and Latin America which operates more than 1,390 motion picture screens and is the parent company of Viacom, a publicly-traded entertainment and media company.

EBRD Finance

The Bank will provide up to US$ 17 million A/B loan to finance the Project.

Project Cost

The total cost of the project is estimated at just below US$50 million.

Environmental Impact

The project was screened C/0. Environmental due diligence confirmed that there are unlikely to be any significant environmental issues associated with this operation. Potential environmental, health and safety risks are relate primarily to life and fire safety issues associated with the operation of the multiplex cinemas (e.g. installation of sprinklers, emergency evacuation plans), The environmental analysis confirmed that the project complies with all relevant Russian and EU environmental, health and safety standards and requirements as well as international Fire and Life Safety Guidelines.

Technical Cooperation

None.

Company Contact

Paul Heth
General Director of OOO "Rising Star Media"
Tel. 007 095 775 44 88
 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.