Summary of Proposed Investment
Project Number
7199
Company Name
Alpha Cement Open Joint Stock Company
Date SPI Disclosed
Feb 1, 1996
Country
Russian Federation
Industry
Manufacturing
Status
Completed
Sector
Cement
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Mar 11, 1996
Signed : Mar 22, 1996
Invested : Mar 27, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Russian Federation-Alpha Cement J.S.C. |
| Region | Europe |
| Sector |
Projected Board DateFebruary 15, 1996
Company NameAlpha Cement J.S.C.
Technical Partner and/or Major Shareholders
Holderbank is the leading international cement company, with 1994 sales of about 50 million tons of cement and clinker. Alpha Capital Fund, established in 1992, is one of the largest Russian-managed investment funds, comprising more than one million shareholders. Parco, established in 1992, is a company formed by a group of professional managers formerly of the Gornozavodsk cement plant in the Ural region
Project Cost Including proposed IFC investment
Project Cost: US$191.9 million IFC Investment: US$35 million IFC’s investment includes a Line of Credit of up to US$20 million, 50% of which will be designated for environmental improvement.
Location of project and Description of site
Alpha Cement J.S.C. (AC), a Russian company established in May 1994, has acquired equity stakes in eleven recently privatized cement companies.
Perm, Russia (Ural Region) is the corporate headquarters of AC. AC’s subsidiary plants are in various regions in Russia:
Plant Name Location Province (Region) Spasskcement Spassk-Dalniy Primorskiy Krai (Far East) Gornozavodsk Gornozavodsk Perm Oblast (Ural) Shurovo Kolomna Moscow Oblast (Central/Moscow) Volskcement Volsk Saratov Oblast (Volga) Nizhny Tagil Nizhny Tagil Sverdlovsk Oblast (Ural) Sukhoi Log Sukhoi Log Sverdlovsk Oblast (Ural) Lipetskcement Lipetsk Lipetsk Oblast (Central) Novoroscement Novorossisk Krasnodarskiy Krai (Black Sea) Topkinski Topki Kemerovo Oblast (Siberia) Nevianski Neviansk Sverdlovsk Oblast (Ural) Zhigulevski Toliatti Samara Oblast (Volga)
Description of Company and Purpose of Project
Purpose: To assist Ac to consolidate its position in the more promising Russian regional cement markets, improve operations of its subsidiaries, secure long-term capital growth, and to address environmental deficiencies at some of its subsidiaries.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental issues associated with the project include air emissions, liquid effluents, spill prevention, solid wastes, protection of water resources, land use and quarry reclamation. Occupational health and safety issues include fire prevention, and employee protection from noise and dust. Environmental, health and safety audits have been conducted at selected existing facilities, and Corrective Action Plans (CAPS) will be established to upgrade the existing facilities, as required, to meet the World Bank guidelines. An environmental audit was conducted by an independent western consulting firm.
The is February 2, 1996 from the Public Information Center.
| Date SPI sent to PIC | February 1, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
