PROJECT

Projects

Summary of Investment Information

Project Number

33387

Company Name

SISECAM SODA LUKAVAC DOO

Date SPI Disclosed

May 7, 2013

Country

Bosnia and Herzegovina

Region

Europe

Projected Board Date

Jun 14, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Manufacturing

Previous Events

Approved : Jun 21, 2013
Signed : Jun 28, 2013
Invested : Jul 25, 2013

Sector

Glass and Glass Products (Including Glass and Mineral Wool)

Additional Project Attributes

Blended Finance

Project Description

Sisecam Soda Lukavac d.o.o. (“SSL”) is involved in the production of light and heavy (dense) soda and other products based on soda ash. SSL was created from the transfer of soda ash production assets from a loss making state owned soda ash producer. IFC provided €39 million (approximately US$50 million) of financing to SSL in two successive investments in 2007 and 2010 for its acquisition and post-privatization investments to turnaround its operations. Total outstanding IFC loan is US$31 million equivalent.

The proposed expansion project is expected to cost US$65 million and will comprise (i) a capacity increase from 365 thousand tons/year (tpa) to 500 thousand tpa leading to economies of scale; (ii) improvements in energy and resource efficiency and reduction in energy costs; (iii) improvements in SSL’s operational efficiency through renovation and equipment upgrades and additional infrastructure; (iv) a waste management project to improve emissions and waste water treatment and (iv) some permanent working capital financing to SSL.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation