Summary of Proposed Investment
Project Number
27465
Company Name
AVTOKRAN, OAO
Date SPI Disclosed
Jul 21, 2009
Country
Russian Federation
Industry
Manufacturing
Projected Board Date
Sep 3, 2009
Status
Completed
Sector
Agriculture, Construction, and Mining Machinery
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Dec 2, 2009
Signed : Dec 9, 2009
Invested : Dec 30, 2009
Project Description
The project is to assist Avtokran (“Avtokran” or the “Company”), Russia’s leading producer of truck mounted cranes, to complete its modernization program for 2008-2009 and partially refinance its short term debt. The modernization program at Ivanovo and Kamyshin plants is aimed at improving production quality and efficiency and comprises following investments:
(a) purchase and installation of a new state-of-the-art boom manufacturing line to produce profiled higher capacity booms;
(b) the purchase of various welding and metal cutting equipment to replace outdate assets;
(c) Part of the IFC financing will be used to refinance the existing short term indebtedness.
Avtokran and the associated group companies manufacture (i) truck mounted cranes with hoisting capacity of up to 100 tons including special chassis truck cranes and slewing rings, (ii) chassis for cranes and other heavy-duty equipment and off-road heavy duty trucks with capacity from 14 to 36 tons.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Company contact:
OJSC Autocrane, Ivanovo,
str. Nekrasova, 61
www.cranes.ru
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384E Mail: Webmaster
Local Access of Project Documentation
Project documentation will be made available at the following location:
OJSC Autocrane, Ivanovo,
str. Nekrasova, 61