Summary of Proposed Investment
Project Number
8112
Company Name
Nikol-Fert
Date SPI Disclosed
May 20, 1997
Country
North Macedonia
Industry
Manufacturing
Status
Completed
Sector
Re-Rolling and Drawing of Purchased Steel
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Jun 30, 1997
Signed : Dec 23, 1997
Invested : Mar 24, 1998
Project Description
revised Summary Of Project Information (SPI)
| Project Name | FYR Macedonia - Nikol-Fert |
| Region | Europe |
| Sector |
Projected Board DateJune 15, 1997
Company NameNikol-Fert (the “Company”)
Technical Partner and/or Major Shareholders
The principal sponsors are the two owners and managers of the Company, Messrs. Nikola and Leonid Gajdadziev.
Project Cost Including proposed IFC investment
US$9.7 million including IFC loan of $3.0 million.
Location of project and Description of site
The project will be located adjacent to the Company’s current production site in the southeastern Macedonia village of Nikolic. The village is located on Lake Dojran and borders Greece.
Description of Company and Purpose of Project
The project is an expansion of the company’s manufacture of steel products for the construction industry. The Company is a medium-sized manufacturer of steel products--meshes, bearers, and cold drawn steel wire--used for the construction sector. The project will allow the Company to manufacture its input requirements of steel wire from billet, thus ensuring security of supply, better quality of inputs, and higher margins. The production will be primarily for Macedonia and the Balkan region.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental issues associated with this project include air emissions, liquid effluents, solid wastes, noise and hazardous waste management. Occupational health and safety issues include general occupational and health and safety in the steel industry. The sponsor will submit adequate information to verify compliance of existing operations with local requirements and World Bank guidelines. The Company’s existing operations will be upgraded if necessary to bring the facility in compliance with applicable guidelines and regulations.
The is from the Public Information Center.
| Date SPI sent to PIC Revised | May 14, 1997 May 20, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
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
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