V-Lazer

Location:

Russia

Project number:

35748

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Target board date:

29 Nov 2005

Status:

Completed

PSD disclosed:

29 Jul 2005

Project Description

The proposed project will finance the investment program of V-Laser LLC, the leading distributor and manufacturer of white goods and consumer electronics in the Russian Far East. The Bank’s financing will partially finance the construction and start up of four new stores in the Russian Far East.

Transition Impact

The project will stimulate greater competition in the retail sector in the Russian Far East, and benefit the local consumers with a wider range of goods and improved service.

The Project demonstrates a successful entrepreneur implementing good standards of transparency and corporate governance. The Bank’s financing will support the development of retail shops affordable to low-to-medium income consumers.

 

The Client

V-laser was established in 1993 as a small family owned business. Today V-Lazer has leading positions in shipment, wholesale and retail of white goods and consumer electronics in the Russia Far East and employs more than 2,500 people.

EBRD Finance

Loan of EURO 7.5 million.

Project Cost

EURO 17.2 million.

Environmental Impact

The Project was screened B/0 under EBRD’s 2003 Environmental Policy requiring an Environmental Analysis.

The Analysis confirmed that all the facilities are designed to comply with Russian environment, health and safety requirements as well as conforming to applicable international standards including energy efficient design, waste minimisation and recycling, use of CFC-free equipment and noise abatement. Whilst the sites are located in densely populated areas, all residential buildings are outside the designated sanitary-protection zones of the stores. Mitigation measures to address potential environmental, heath and safety impacts relating to the construction (e.g. dust, noise, construction waste management, construction traffic) and operation (e.g. increased traffic flows, air emissions, wastewater discharges and solid and hazardous waste management) of the stores have been incorporated into the project design for each new store. V-laser will be required to comply with applicable national environmental, health & safety and public consultation requirements and applicable EU standards.

A monitoring visit has been carried out by the external consultants in October 2011 to assess environmental, health and safety performance and compliance of the project. Monitoring visit focussed on reviewing Company’s environmental, health and safety practices across its facilities. Following the visit a number of recommendations have been made for further improvement in the areas of occupational heath and safety, waste management, pollution prevention, good housekeeping. These findings and recommendations have been discussed with the Client and additional actions have been agreed to ensure compliance.

Technical Cooperation

None.

Company Contact

Sergei Mitrofanov,
Tel: +7(4232) 499 833,
E-mail: sfm@v-lazer.com

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.