PROJECT

Projects

Summary of Proposed Investment

Project Number

8173

Company Name

MASINOMONT DOO SKOPJE

Date SPI Disclosed

Apr 24, 1997

Country

North Macedonia

Industry

Manufacturing

Status

Completed

Sector

Industrial Machinery

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Jun 30, 1997
Signed : Nov 11, 1997
Invested : Dec 11, 1997

Project Description

Summary Of Project Information (SPI)

Project NameFYR Macedonia: Masinomont Expansion
RegionEurope
Sector
Project No008173
Projected Board DateJune 3, 1997
Company NameMasinomont Company
Technical Partner and/or Major Shareholders

Stanko and Zoran Spasic

Project Cost Including proposed IFC investment

Total Project Cost US$ 1.35 mln Total IFC financing US$ 0.6 mln (loan)

Location of project and Description of site

The project’s site is in Istochna Industrialska Zona, located in the outskirts of Skopje, FYR Macedonia.

Description of Company and Purpose of Project
The US$ 1.35 mln expansion project comprises: (1) construction of new manufacturing facility; (2) purchase of new equipment; (3) working capital.
Masinomont Co is a small family company, jointly owned by two brothers - Stanko and Zoran Spasic. It manufactures flat glass processing machines and flat glass for table tops and shaped mirrors. The project is an expansion and involves: (1) construction of new manufacturing facility; (2) purchase of new equipment; and (3) working capital. The proposed project is being processed under the Extending IFC’s Reach Program - Small Enterprise Fund, Europe. Through the project IFC would provide long term financing for a local manufacturing company in a country, where such financing is not currently available. The project fits with IBRD/IFC’s strategy in FYR Macedonia to support commercially viable industrial projects, which promote import substitution and have export potential.

Environmental Category and Issues

This is an environmental review category B project. Issues include site location and land use, air emissions, liquid effluents, solid and hazardous wastes, occupational health and industrial safety and fire prevention and emergency response. The sponsor had presented plans to address these issues and demonstrate the project will comply with applicable governmental and World Bank requirements. Programs are in place to recycle treated process water and to control release of air emissions to the atmosphere. Employees will be trained on occupational health and industrial safety issues quarterly.

The is from the Public Information Center.

Date SPI sent to PIC April 24, 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