The EBRD is considering the provision of a loan to the Borrower to finance the construction of a rendering plant in Russia.
This project envisages constructing one of the first independent and state-of-art rendering facilities for the meat processing sector in Russia. The rendering industry is one of the oldest recycling industries, and takes what would otherwise be animal waste materials and makes useful products such as fat and meals for several industrial applications. The customers are mainly located in the pet food, fertilizer and pharma industries. Rendering solves major environmental problems. Transition impact of the transaction is therefore likely to derive from
(i) the demonstration effect of this new product in establishing a state-of-the-art independent new rendering facility operating to best international standards;
(ii) setting standards in waste management and environment; and
(iii) backward linkages by training suppliers to the plant in waste management.
The Borrower is a subsidiary of a Germany based Company which runs operations across Europe and produces high quality inputs to food and animal food processors as well as for agriculture, aquaculture and industrial applications. The Company is also active in the collection of food and animal waste and operates biogas and bio fuel plants.
Up to EUR 19 million loan to the Borrower available either in EUR or in RUB.
Up to EUR 36 million.
The Project is Categorised B according to the EBRD’s Environmental and Social Policy (ESP) 2008. The environmental and social risks associated with the operation of a meat rendering plant are site specific and can be managed via the implementation of appropriate mitigation plans.
Standard due diligence is required to benchmark the Borrower against the requirements of the 2008 ESP. Where the results of the due diligence identify issues where the Project does not meet the Bank's Performance Requirements, an Environmental and Social Action Plan shall be prepared and agreed with the Company as necessary, to ensure the Company's compliance with the Bank’s Performance Requirements.
An Independent Consultant will be required to visit the proposed Project location and carry out a series of meetings with key Company personnel to complete a Corporate Audit of the management systems and risk management processes to be used during construction and operation of the plant, and an Environmental Analysis of the Project.
The Company will need to develop a Stakeholder Engagment Plan (SEP) in line with PR10. The Bank will monitor the Company's environmental and social performance for the lifetime of the project through annual environmental and social reporting and via periodic site visits. The Company will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety.
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