VIKING RIVER CRUISES

Location:

Regional

Project number:

6884

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Target board date:

10 Jul 2001

Status:

Completed

PSD disclosed:

11 Jun 2001

Project Description

Proposed senior loan for the acquisition of: (a) two second-hand river cruise vessels for Viking River Cruises’ Russian operation; and (b) a new river cruise vessel for their Hungarian operation.
The project aims to assist Viking River Cruises in expanding its fleet of river cruise vessels serving international tourists in Russia and Hungary. The loan would finance the acquisition of two second-hand river cruise vessels for the company's operations in Russia and a new vessel for operations in Hungary.
 
 

Transition Impact

The project will promote tourism in Russia and Hungary, increase competition in the river cruise market and introduce higher standards of service, which would help to expand the overall market.

The Client

(a) Viking River Tours, a limited liability company registered in Bermuda, (b) Viking River Croisieres Sarl a limited company established in Hungary, and (c) OOO Passenger Fleet, (PF), a limited company registered in Russia, where (a) and (b) are the borrowers and (c) is the guarantor. All companies are 100 per cent owned by Viking River Cruises S.A., a limited liability company registered in Luxembourg.

EBRD Finance

Senior loan of US$ 15 million (€17.7 million)

Project Cost

US$ 30 million (€35.41 million).

Environmental Impact

The project was screened B/0, requiring an environmental analysis. The principal environmental issues are: compliance with relevant national, EU and international standards for the construction and operation of such vessels; and environmental, health and safety considerations during operation of the vessels, particularly with regard to emergency response.

Technical Cooperation

None.

Company Contact

 

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