SVL Group

Location:

Russia

Project number:

42876

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Approval date:

22 Nov 2011

Status:

Complete

PSD disclosed:

26 Jan 2012

Translated version of this PSD: Russian

Project Description

Senior loan of up to USD 20.1 million to finance part of the cost of three new-built double-hull sea-river tankers, to be acquired by SVL Group. The loan will support the Company’s efforts to build its own sea-river tanker fleet. The EBRD financing will be complemented by a parallel loan from ZAO Unicredit Moscow.

Transition Impact

The Project’s transition impact comes from the on-going fleet renewal in the Russian sea-river oil shipping segment where single-hull vessels need to be replaced by double-hull vessels to improve their environmental safety. The project vessels will comply with IMO regulations, and the SVL Group will also implement various measures to enhance the safety and environmental standards of its shipping operations.

The Client

SVL Group, a group of companies with an established presence in oil products and chemicals trading and port operations in Russia.

EBRD Finance

Senior Loan of up to USD 20.1 million.

Project Cost

Up to USD 50.2 million.

Environmental Impact

The proposed project has been categorised B. The acquisition of five new double hulled sea-river class tankers is associated with environmental and social impacts that can be identified and addressed through adequate mitigation measures. The due diligence also covered the operations, policies, procedures and management systems of Livonia Shipping (the “Fleet Manager”), which will carry out the operation and technical management of the Project Vessels. Moreover, given that the Project Vessels will be chartered to TNK-BP, the environmental, social, and health and safety provisions included in the charter arrangements and documentation were reviewed.

The investigations showed that SVL is a serious and efficient operator practicing internationally acceptable environmental, health and safety (EHS) standards and its operations are overall in compliance with regulatory requirements, EU environmental standards and international (including IMO, MARPOL and SOLAS) standards of maritime safety and environment protection. Its EHS management system is certified under the International Safety Management (ISM) Code. The fleet manager has appropriate systems and controls in place to manage environmental, health and safety and labour risks. In addition, BP's strict EHS standards will be applied to the operation of the Project Vessels, as SVL has a contractual obligation to comply with all relevant environmental and maritime safety, OHS and labour requirements, standards and operational procedures of TNK-BP in their operations as well as their vetting standards. The implementation of IMO standards and BP's strict EHS rules would minimise the potential pollution risks associated with the use of the vessels for the transportation of oil products. The Project Vessels will be constructed at Kherson Shipyard, Ukraine, to specifications that comply with IMO and BP EHS requirements. SVL has committed to engaging an international company to supervise the building of the Project Vessels, including supervision of EHS practices at the shipyard.

An Environmental and Social Action Plan (ESAP) has been developed to further improve the environmental and social performance of the Company in line with international best practice and to ensure it carries out the project in compliance with the EBRD PRs. The ESAP commits the Company amongst others to: appointing a qualified EHS Manager and additional staff as required; attaining ISO 14001 and OHSAS 18001 accreditation; carrying out Tanker Management Self Assessment 2 (TMSA2) Audit; maintaining compliance of all fleet with international maritime safety and environmental standards (including IMO MARPOL and SOLAS); developing a fleet renewal and disposal (scrapping) plan taking into consideration international regulations; implementing a GHG accounting and reporting system and implementing a programme to improve energy and GHG performance; developing and implementing a plan and checklist for STS (Ship to Ship ) transfers; developing and operating a third party and contractor EHS monitoring system; and developing and adopting a corporate stakeholder engagement plan including a grievance mechanism.

The Company will provide the Bank with annual reports on its environmental and social performance, including updates on the implementation of the ESAP. The Bank will commission a completion audit and may also conduct monitoring visits, as required.

Technical Cooperation

None.

Company Contact

SVL Group
Mosfilmovskaya street, 28,
Moscow, 119285
Russia

Tel: +7(495) 995 55 55
Fax: +7(495) 995 55 56
Website: www.svlactiv.com/

 

Business opportunities

For business opportunities or procurement, contact the client company.

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Public Information Policy (PIP)

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Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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