The proposed project consists of the renovation of a disused brick factory in Sarajevo for production of a range of clay bricks. The funds will be used for the reconstruction of the building and acquisition of new equipment for TOS, a subsidiary of Nasicecement d.o.o from Croatia (the “Sponsor”). The Sponsor is a cement and building materials producer with operations in the former Yugoslav region. The aim is to support the Sponsor in becoming a diversified producer of building materials.
The main transition impact of the proposed project will derive from the increased competition due to higher local production, a new product range of high quality and improved cost effectiveness. The proposed project will promote cross-border investments and regional consolidation in the industry.
TOS will be organised with best standards of practice and corporate governance. It will follow the corporate governance guidelines of the Sponsor that will include transparent processes and procedures in decision making. The proposed project will benefit from a management and human resources plan that the Sponsor is currently implementing.
TOS, as a subsidiary of the Sponsor established to own and operate a brick factory in Sarajevo for production of a range of clay bricks.
EUR 6.2 million senior debt.
EUR 13.2 million.
The project has been classified B/1, requiring an environmental analysis and an environmental audit.
The environmental investigations are under way. The project will be structured to meet applicable EU standards or other good international practice. An environmental action plan will be agreed between the Company and the Bank. In accordance with Bank requirements, a summary of the relevant environmental issues associated with the project and mitigation measures, action plans and other initiatives agreed will be disclosed in the local language at or near the project site. The Company will provide the Bank with annual environmental reports.
This section will be updated and amended as soon as the environmental due diligence has been completed.
Dario Sertic, Chief Financial Officer, Nasicecement d.o.o.
Tel: 385 31 616 374
Fax: 385 31 609 029
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