Ukrrichflot III - Follow On Loan

Location:

Ukraine

Project number:

35668

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Approval date:

12 Jul 2005

Status:

Complete

PSD disclosed:

25 May 2004

Project Description

The proposed project provides a long-term loan to finance part of the acquisition costs of 5 dry cargo newbuildings, a part of the company’s fleet modernisation programme.

Transition Impact

The proposed project will include corporate governance enhancement measures to be implemented by the company. It will also facilitate inter-regional trade, and will support the company’s further fleet modernisation.

The Client

Joint Stock Shipping Company Ukrrichflot is a Kyiv-based ship owner operating in the niche river-sea and short sea markets on the Dnieper and Danube rivers, in the Black, Azov, North and Baltic Seas, as well as in the Mediterranean.

EBRD Finance

A senior loan of up to USD 28 million, to be structured as an A/B loan.

Project Cost

USD 50 million.

Environmental Impact

Screened B/1.

There will also be a requirement to establish relevant on-shore staff health and safety and environmental procedures and emergency response plans and certification according to ISO 14000, the international standard for environmental management systems, in addition to the pre-requisite safety and environmental compliance for the Project Vessels, which will be fully classed by the Russian Registry of Shipping, a member of the International Association of Classification Societies and compliance with international conventions such as MARPOL and SOLAS and the relevant river standards.

Technical Cooperation

None.

Company Contact

JSSC Ukrrichflot
51 Nizhniy Val,
Kyiv 04071,
Ukraine

 

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

General enquiries

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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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