Trans Oil Equity Investment

Location:

Moldova

Project number:

42634

Business sector:

Agribusiness

Notice type:

Private

Environmental category:

B

Status:

Cancelled

PSD disclosed:

20 Jul 2011

Translated version of this PSD: Moldavian

Project Description

The EBRD is considering making an ordinary equity investment in Vision Holding SA (the Group). The Bank’s investment will be used to finance the Group’s permanent working capital needs, as well as the new vegetable oil and meal storage facilites in the Group’s grain port terminal in Giurgiulesti, Moldova.

The capital investments will permit the Group to perform transhipment of both oil and meal, and will result in significant savings in transhipment costs. Further, the increased permanent working capital will allow the Group to grow its processing operations as well as boost its level of trade finance.

Transition Impact

The project, when approved by the EBRD’s Board of Directors, will contribute to transition in the following ways:

  • Improvement of Corporate Governance through:

    (i) establishment of a Supervisory Board; and
    (ii) improving management reporting procedures.
  • Market Expansion. The Bank’s financing would allow the Group to provide more liquidity for the primary agricultural sector.

The Client

Vision Holding SA, Switzerland is an entity which owns a number of grain originating, processing, logistics and trading entities (the “Group”) in the Republic of Moldova.

Since 1998, the Group has been establishing contacts with grain producers in Moldova and has become a regional operator, practicing a wide range of activities from farming, grain handling and storage to international trading in grains, vegetable oil and animal feed.

EBRD Finance

EBRD is considering providing up to US$ 15 million ordinary equity investment.

Project Cost

US$ 15 million.

Environmental Impact

Potential E&S impacts associated with the Project are likely to be site specific and can readily be identified and addressed through mitigation measures. Therefore, the project has been categorised B. The Environmental and Social Due Diligence (ESDD) will include an independent corporate audit of Transoil's current E&S management systems, ESH and labour management in the supply chain and their past and current performance against the EBRD PRs and an E&S analysis of the proposed investment programme. Once the ESDD is completed, this section of the PSD will be updated to include the findings and mitigation measures identified and the summary of the main commitments in the Environmental and Social Action Plan.

Technical Cooperation

None.

Company Contact

Mr. Vaja Jhashi,
President

Tel: +373 22 889 300
Fax: +373 22 889 301

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

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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