PROJECT

Projects

Environmental Review Summary

Project Number

22768

Company Name

NW SHIP-REPAIR COMPANY LIMITED

Date ERS Disclosed

Mar 5, 2004

Country

Russian Federation

Region

Europe

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Apr 29, 2004
Signed : May 23, 2005
Invested : Jun 2, 2006

Sector

Water Transportation

Industry

other

Department

Regional Industry INF LAC & EUR

Project Description

Originally founded in 1923 and privatized in 1993, North Western Shipping Company (NWSC) is one of Russia’s largest river and sea shipping companies with a focus on the northern trading areas. NWSC activities include both river and short-sea shipping, with a total fleet of over 190 vessels active in international and domestic trade and passenger transportation. The proposed project will support NWSC’s effort to modernize its dry cargo fleet through the financing of the company’s vessel renewal program. Specifically included is the construction of up to 8 new 5,000 dead weight ton dry-cargo river and sea going vessels and the financing of working capital for about $67million.

Environmental and Social

Conclusion & Monitoring