Project description
and objectives:
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The proposed project comprises supporting modernisation, upgrading and expansion of Fazer Bakeries’ operations in Russia.
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Transition impact:
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The transition impact of the project is expected to be high and will derive primarily from increased competition. The project is aimed at supporting a dedicated and knowledgeable industry leader to expand rapidly and to increase its market share through an active involvement in the consolidation of the Russian bakery industry.
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The client:
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Fazer Russia.
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EBRD finance:
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RUB 3.5 billion senior secured loan, of which 2.1 billion to be syndicated to commercial banks.
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Total project cost:
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RUB 5.8 billion.
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Environmental impact:
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Screened B/1. Site visits of several of the Fazer Russia facilities have been undertaken by a member of the Bank's Environment Department. A range of issues were discussed with staff in charge of environment, health, safety and labour issues. Key amongst these are local nuisance issues associated with dust, noise and odours, energy consumption and water and waste water management. The client has demonstrated that it is aware of these issues and is managing these in compliance with Russian national requirements. The client is the subject of regular inspections by a range of authorities and to date has not had any problems in respect of these.
The Bank and Fazer will agree an environmental action plan to ensure that Fazer Russia continues its compliance with national requirements and to bring the facilities into EU compliance within an agreed timeframe. Fazer will provide the Bank with an annual report on the implementation of the EAP and on any other key environment, health, safety and labour issues.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Ulrika Romantschuk, Senior Vice President,
Communications,
Fazer Group
Tel. +358 40 566 4246
E-mail: ulrika.romantschuk@fazer.fi
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EBRD contact:
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Wojtek Boniaszczuk, Operation Leader: boniaszw@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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