The proposed project envisages the launch of new corrosion protection services and further regional expansion of the Company. Investment programme is staged into two phases.
Phase 1 consists of investment in equipment for corrosion protection and fireproofing of oil and gas platforms, the development and introduction of a new high-tech corrosion protection service to the Russian market.
Phase 2 envisages investments in additional equipment and acquisitions to enhance the Company’s geographic reach and increase its customer base.
The proposed project contributes to adoption of the international corrosion protection standards by Russian companies and introduction of the new high-tech corrosion protection services. New level of cooperation with industry leaders (D&F (Norway), Kiess(Gemany) and joint participation in international projects will help transfer skills and technologies, as well as introduction of the best industry practices in quality, health and safety control.
VYSO is a specialised provider of comprehensive corrosion protection services for metal and concrete structures. The company is located in Urals in the town Revda, 45 kilometres from Yekaterinburg. The Company is among top three players in the industry in Russia.
EBRD will provide up to USD 12 million financing as an equity investment and a loan facility.
USD 17 million.
The project is screened B/1. An Environmental Analysis and an environmental audit were carried out by independent consultants. The results of the investigations confirmed that the Company’s operations, including compliance with relevant regulatory requirements for environment and health and safety, are satisfactory and any impacts associated with the proposed project can be minimised through the implementation of the mitigation measures identified in the Environmental Analysis. As result of the Environmental Audit an Environmental Action Plan (EAP) has been developed to bring the Company's existing manufacturing and service activities into compliance with the national and international standards.
Market and operational due diligence funded by Great Britain Trust Funds of EUR 30,000.
Environmental analysis and audit funded by Great Britain Trust Funds of EUR 13,000.
Andrey Mikhailov, Chief Executive Officer
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