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Abrau-Durso

Russia | Consumer Staples

Identification Code:: OP/10/0795
Total Operation Cost:: 25.000.000 EUR
Maturity:: 82 months
Operation Status:: BSTDB Approved Amount – Approval Date

25.000.000 EUR – 21 Jul 2011
: BSTDB Signed Amount – Signed Date

25.000.000 EUR – 19 Nov 2011
: Status:
Completed
Description and Purpose of the Operation:: Provision of a corporate debt financing to OAO "Abrau-Durso" (the "Borrower") for the upgrade of production facilities of ZAO "Abrau-Durso" ("Company"), Russian Federation. The loan will cover a portion of capital expenditures program that consists of the upgrade and extension of the Borrower-controlled sparkling wine production facilities in Abrau Durso village, as well as construction and operation of a high standard hotel located in the vicinity of Lake Abrau (all in Krasnodar Region, South of Russia ).
Countries of Operation:: Russia (100,00%)
Financial Product:: Loans
Sector:: Consumer Staples
Domain:: Private
Borrower/Client:: OAO "Abrau-Durso"
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: Construction of a new hotel according to the best industry standards; Improvements in tourist infrastructure; Development of the Company's production facilities on the basis of efficient technologies; Compliance with best d environmental standards due to improvements in water treatment facilities; Job creation.
Environmental Classification and Impact:: According to the Bank environmental screening the Operation has been categorized as B. Environmental assessment concluded that construction of the hotel and upgrade of the Borrower's sparkling wine producing facility is not likely to generate significant negative EHS impacts due to the appropriate mitigation/minimization measures which will be employed during construction and operation stages. Overall, the project will result in positive socio-economic impacts at the local level by creating new jobs, stimulating the small businesses associated with the hotel operation, wine making and vineyards, as well as the regional level by providing an attractive tourism destination, and not less important, promoting wine consumption by educating wine taste and wine appreciation of the consumers in Russian Federation. The Borrower is required to implement the project in accordance with applicable EHS legal requirements of the Russian Federation and remain compliant at all times with these requirements, as well as submit to the Bank annual EHS performance reports
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org