25232 - Sandora II

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Summary of Proposed Investment

Project Number

25232

Company Name

Sandora, TOV

Date SPI Disclosed

Jul 18, 2006

Country

Ukraine

Industry

Agribusiness and Forestry

Projected Board Date

Sep 1, 2006

Status

Completed

Sector

Soft Drink

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Sep 25, 2006
Signed : Sep 28, 2006
Invested : Oct 23, 2006

Project Description

Sandora LLC (Sandora or the company) is a leading manufacturer of branded packaged juices and juice nectars in Ukraine. It owns and operates two fruit processing and two juice and nectars packaging plants located in Southern Ukraine. The proposed project is a program of corporate-wide investments at Sandora aimed at:

- increasing the company’s productive capacity;
- introducing new plastic and glass packaging;
- launching baby food products;
- strengthening fruit processing and concentrate production;
- improving Sandora’s distribution network; and
- increasing working capital.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	20.0
Equity

Development Impact

The proposed investment program will add new capacity in the company’s core juice and nectar packaging and fruit puree processing business. Modernization, rationalization and capacity expansion of Sandora’s production facilities, certification to international standards (HACCP) and strengthening of its local raw material base will allow the company to cater to the growing demand for nectars and juices in Ukraine and abroad, while improving product quality and broadening product range. The company is and will remain a key contributor to the government’s fiscal revenues in the Mykolayiv region. The proposed investment will also help the development of the fruit sector in southern Ukraine by creating consistent demand for local fruits purchased from private small farmers.

The project promotes the production of value-added products and supports local entrepreneurship as well as technology transfer by importing the latest fruit processing and packaging equipment. The key role of IFC will be in providing:

- long-term financing necessary for carrying out the company’s expansion and diversification plans; and
- assistance in developing long-term strategy for the company’s growth.

IFC will also play a role in assisting the company with:

- the introduction of HACCP; and
- improving supply management related to local fruit procurement.

This is a category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The company has presented plans to address these impacts to ensure that the proposed investments will upon implementation of the specific agreed measures, comply with the environmental and social requirements - the host country laws and regulations and the World Bank/IFC environment and social policies and the environmental, health and safety guidelines. IFC’s practice is to categorize corporate investments of this type as Category B, particularly in cases such as this where an existing investment has assessed the physical facilities and the company is up-to-date in meeting its commitments under that investment.

Contacts

For Inquiries About the Project, Contact

Sergey Sypko, General Director
E-mail: sypko@sandora.mk.ua
Telephone: +380-512-581-041

Environmental documents accessible to locally affected communities are located at Sandora’s office located at:

17 N. Zavodskaya Str., Mykolayiv
54028, Ukraine

For Inquiries and Comments About IFC, Contact

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IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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