Project description
and objectives:
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The EBRD is considering the provision of a syndicated loan of up to USD 37.1 million to finance the construction, ownership and operation of an international standard logistics centre located in the town of Brovary, in the Kiev region. UVK, a leading Ukrainian logistics operator, will be the tenant of the facility.
With the development of a large international standard logistics centre, the Project will help address the current undersupply of modern warehouse space in Ukraine. The centre will have a Gross Leasable Area of around 49,200 m2.
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Transition impact:
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The Project transition impact will derive from the following key areas:
(i) Promoting competition in the Ukrainian logistics sector though the delivery of a significant amount of modern logistics space to the market, which will contribute substantially towards meeting the unsatisfied demand from local and international logistics operators.
(ii) Upstream and downstream linkages as by supporting the expansion of a leading local logistics operator the project will benefit a number of large and smaller product suppliers and retailers using professional logistics services.
(iii) Improvement of modern business standards through transparent procurement of land for the project, tendering of all the major contracts, adopting efficient international standard construction practices (including environmental, health and safety standards).
(iv) The Bank’s involvement will also assist in mobilising long-term debt funding for the project.
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The client:
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The client/borrower is a Special Purpose Company (SPC) incorporated in Ukraine, owning and operating the logistics centre. The borrower is a subsidiary of AISI Reality Public Limited, a Cyprus registered property fund listed on the AIM market operated by the London Stock Exchange.
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EBRD finance:
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EBRD will provide a senior loan of up to USD 37.1 million, of which at least USD 18.55 million will be syndicated to participant institutions under an A/B loan structure.
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Total project cost:
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Total project costs amount to USD 53.0 million
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Environmental impact:
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Screening Category and Justification:
Screened B/0 requiring an environmental analysis. Environmental impact associated with the proposed project can be readily identified and mitigated by adequate measures.
Due Diligence Undertaken and Outcomes:
The due diligence including the Bank Staff’s site visit confirmed that the project site is not contaminated and is fit for the required purposes. The project has been developed in accordance with Ukrainian environmental requirements as well as good international practice.
Implementation Requirements:
Going forward the Bank will require the borrower to ensure that, the environmental action plan (EAP) is implemented, national and EU environmental, health, safety and labour standards and requirements are met and an Annual Environmental Report is provided to the Bank. The Bank will monitor the project by a review of an Annual Environmental Report and monitoring visits where necessary and adequate.
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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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Beso Sikharulidze
President
Aisi Realty Capital, LLC
5 Prytys'ko-Mykilska
Kiyv, 04070
Ukraine
Phone +38 044 459 3000
www.aisicap.com
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EBRD contact:
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Milen Georgiev, Operation Leader: georgiem@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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