Translated version of this PSD: Russian
The EBRD is considering providing a loan of up to USD 20 million to finance the further expansion of Turkmenistan Coca-Cola Bottlers. The loan proceeds will be used to finance an increase of production and bottling capacity at the Company. Any transaction will be subject to approval by the management and boards of all parties, and to the negotiation and execution of appropriate legal documentation.
The proposed investment will enhance the transition impact of the Project , supporting greater competition and consumer choice by increasing the production of Company’s products and the introduction of new Stock Keeping Units (SKUs). It will also widen the distribution reach via increasing the number of modern independent distributors and the independent warehousing capacity.
Turkmenistan Coca-Cola Bottlers, a company incorporated under the laws of Turkmenistan and 59.5% directly owned by Coca-Cola Icecek A.S. (“CCI”). CCI is a publicly traded Turkish Company and owns 20 production facilities with operations in 10 countries, including Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq and Syria and Tajikistan.
Up to USD 20.0 million long-term loan to finance further expansion of Turkmenistan Coca-Cola Bottlers operations in Turkmenistan.
USD 20.5 million
This project was categorised B given that the impacts associated with the project are site specific and readily mitigated.
The Company is implementing a series of Coca-Cola management systems which cover the range of issues required under the EBRD’s Performance Requirements. This means there is an environmental management system (ISO 14001 certified) which ensures identification of key environmental issues, compliance with national environmental standards, and monitoring of key environmental indicators. There are similar systems in place covering both health and safety (OHSAS 18001) and labour issues. The implementation of these systems by the Company also ensures compliance with good international practice. The only outstanding issue is the treatment of waste waters, and the Company is in the process of finalising a waste water treatment plant which is due to be completed by the end of June 2011.
Coca-Cola management system requires the regular auditing of the Company’s performance using third party auditing specialists. The Company will be required to continue compliance with EBRD’s PRs and provide the Bank with an environmental and social report on an annual basis.
Çiğdem Güres Erden
Coca-Cola İçecek Anonim Şirketi
Tel: +90 (216) 528 4490
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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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.