Translated version of this PSD: Russian
The EBRD is considering providing financing to Splat, one of the leading players on the Russian toothpaste market. The financing will support Splat in implementing its long-term development strategy, expanding further on the Russian and international markets and launching new products.
The project will support a locally managed enterprise that innovates, introduces modern new products and upgrades to international standards, particularly with regard to corporate governance, transparency and resource efficiency. The financing will help the company to become more competitive in new product development. EBRD will also assist the company in improving its corporate governance principles and aligning them with the global best practices.
Splat is a Russian company which was established in 2000 and has grown to become one of the leading players in the Russian toothpaste market. Splat develops, produces, sells and distributes oral care and cosmetic products.
EBRD is considering an investment in the amount of up to RUB 822 million.
Up to RUB 822 million.
Categorised B. The potential environmental and social impacts associated with the Project are expected to be site specific, readily identified and addressed through appropriate mitigation and management measures. All expansions, such as new production lines, will be within the existing site boundaries. Environmental and social due diligence (ESDD) has been carried out by ESD with the support of an independent consultant and involved a site visit and an E&S audit to assess Splat’s E&S capacity and management procedures and current E&S performance.
Due diligence showed that Splat is well aware of its E&S risks and has in place robust management systems (ISO 9001, 14001 and 22716 certified) and procedures, particularly at its production facility, together with the necessary capacities, to effectively manage both current and future E&S impacts and risks and meet the EBRD’s E&S Policy and the Performance Requirements. The production facility is located on the old site of a mineral water bottling plant and an OVOS was conducted for the plant conversion and all necessary permits are in place. Emissions to air are within local limits and all wastewater is treated on site prior to removal to a municipal wastewater treatment plant. Only treated stormwater is discharged off site into the nearby river. Waste materials are removed off site by a specialist contractor. Occupational health and safety provisions are generally appropriate for the facility. Splat has in a place an effective product complaints and recall mechanism. Raw materials are procured from local distributors for international suppliers with most materials coming from Europe.
An Environmental and Social Action Plan (ESAP) has been developed for the Project. Key actions in the ESAP include obtaining the necessary permits for expansion plans; implementing an OHS management system that meets the requirements of OHSAS 18001; improving OHS provisions in some areas of the plant; developing a transport management plan; considering potential E&S issues in procurement and contractor management; and formalising current and future stakeholder engagement activities in a SEP. EBRD will monitor the Project’s E&S performance by reviewing annual environmental and social reports, including updates on the implementation of the ESAP, provided by the company and may also undertake monitoring visits.
Alexander Zlobin, CFO
Tel: +7 (495) 725 66 38
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