Translated version of this PSD: Ukrainian
The EBRD is considering participating in the financing of the railcar acquisition programme of the Ukrainian New Forwarding Company (“UNPK”), the Ukrainian subsidiary of Globaltrans Investment Plc. (“GTI Group”) – a freight rail group with operations in Russia, CIS and Baltic countries. GTI Group development programme aims to capitalise on the successful operational track record in the region to date, as well as on strong demand for railcars in Ukraine and other CIS countries.
The transition impact of the proposed Project is derived from its support for the market entry of a strategic private player with strong potential for expansion contributing to a larger private participation in the sector and, thus to an enhanced competition.
GTI Group is one of the most experienced freight rail groups with operations in the CIS, and its presence in the Ukrainian market will contribute to reducing transportation and distribution costs and higher quality of services.
In addition, the Project will promote enhanced energy efficiency, resulting from the use of new and more energy efficient rolling stock and application of best practice technologies for maintenance.
UNPK, the main Ukrainian operating subsidiary of GTI Group – a Cyprus based holding company with subsidiaries operating in Russia, CIS and Baltic countries.
A senior loan of up to USD 7 million.
USD 33 million.
Categorised B in accordance with the EBRD Environmental and Social Policy 2008. The environmental and social due diligence undertaken for the Bank’s previous projects with GTI Group showed that the expansion of the Group’s rolling stock fleet will not result in significant environmental or social impacts and that the Group is currently in compliance with the relevant EBRD Performance Requirements.
GTI Group has a corporate environmental policy, which embodies principles of regulatory compliance, protecting natural resources and biodiversity, pollution prevention, labour safety, respect for the rights and lifestyle of indigenous peoples and environmental, health and safety training of personnel. UNPK is implementing the corporate policy in its operations policy by reducing the empty runs of railcars, regular maintenance of railcars based on actual use, and opting for maintenance and repair companies that use environmentally-friendly technologies with minimum wastewater and waste production. GTI Group and UNPK rely on the third-party services in operation and maintenance of the rolling stock and the principles of the Group's environmental policy are also communicated to third parties providing services to the Group.
The Group has assigned health and safety responsibilities to a number of managers and employees, and regularly provides health and safety training to its workers and induction for all new employees. The Group also develops and implements a health and safety protection plan every year. Assessment of workplaces is conducted every five years and regular medial checks are undertaken of all employees. The Group also has in place internal employment regulations, which specify the rights and obligations of the employer and employees. Social benefits are provided to all employees that are additional to what is required by relevant Ukrainian regulations. A grievance mechanism is available and every employee has access to a hotline with the management through the Group's intranet.
The Group's railcars are occasionally involved in transportation of environmentally sensitive materials, but as a freight forwarder and operator its responsibility for accidental spills and derailments are limited. It is the responsibility of shippers to obtain an accidents and incidents insurance cover for transportation of goods, while the railway carrier bears the operational risk and is responsible for emergency planning and response. The Ukrainian Railways (Ukrzalysnitsia) is responsible for ensuring and monitoring compliance of transported goods and railcars with technical specifications and regulations, availability of relevant permits and conducting inspections of the railcars at the time of loading and unloading of cargo.
The new rolling stock to be purchased will need to comply with relevant Ukrainian environmental and safety regulations as well as the EU environmental requirements, where relevant.
An Environmental and Social Action Plan (ESAP) has been developed and agreed with the Group to address some areas for improvement which will enable the Group to comply with national regulations and the Bank’s PRs.
The Project will be monitored in terms of its environmental and social performance and implementation of the ESAP through annual E&S reports and site visits when deemed necessary.
Mikhail Perestyuk, Head of IR, Globaltrans Investments Plc
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