Financed ProjectsSOLIKAMSKBUMPROM

Identification Code:

OP/16/0045

Total Operation Cost:

0

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

EUR 27 million secured corporate loan earmarked towards the financing of the Borrower's 2017/18 Capex program (purchase and installation of wood preparation and debarking equipment)

Countries of Operation:

Russia (100,00 %)

Financial Product:

Loans

Sector:

Materials

Domain:

Private

Borrower/Client:

OJSC Solikamskbumprom

Co-Financiers/Participants:

not applicable

Guarantors/Sponsors:

not applicable

Developmental and Regional Cooperation Impact:

OJSC Solikamskbumprom is a major regional exporter. Greece and Turkey are among the company's export destinations, meaning that there will be regional cooperation benefits from the sale of output as a result of this operation. Financing from the Operation will be used to import de- barking equipment produced by market leader Finnish Valmet; it will contribute to imports of modern technology beyond BSTDB area.

Environmental Classification and Impact (summary):

Category B+ Operation. It has the potential to generate medium to high E&S risks and impacts, which however are limited in nature and can be addressed efficiently through relevant mitigation measures. The main E&S issues associated with SBP and construction of the new wood preparation yard relate mainly to: legal compliance with environmental, labor, and health and safety laws and regulations; the employed labor and working conditions; the applied pollution prevention and abatement; impacts on the local communities; and use of natural resources.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org