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06.11.2008
EBRD is considering granting of the Loan to Stirol
European Bank for Reconstruction and Development (EBRD), which is the biggest investment international bank operating in countries of Central and Eastern Europe and also in CIS states and which one of main activities is financing investment projects matching international technical, process and environmental requirements, is considering granting of the Loan to JSC «Concern Stirol» for implementation of big project in the framework of Concern’s strategy, aimed at energy and resources efficiency. Project has already passed strict international due diligence with respect of its correspondence to principles and procedures of EBRD.
Project involves implementation of large-scale operations, related to increase of energy efficiency of the Company, including Energy and Operational Efficiency Management System, and also modernization of two urea plants with the aim of improving of their cost and operational efficiency. This Project also will have considerable environmental impact. Its implementation will allo w also reduction of N2O gas emission, and in terms of carbon dioxide this will constitute 1,9 mln. t before 2012.
The project was screened as B/1 and involves financing energy efficiency and modernisation investments, including modernisation of two ammonia and two urea units, as well as implementation of a modern Energy Efficiency Management System and reduction of N2O gas emission. The proposed investment will improve cost and operational efficiency, increase production volume, improve the quality of production output and reduce emissions.
The rehabilitation and modernisation of the existing fertiliser plant will result in significant environmental benefits and the potential impacts can be readily assessed; therefore, an environmental analysis of the proposed investment programme and an environmental audit of the production facilities have been completed and an Environmental and Social Action Plan (ESAP) has been developed. The environmental due diligence, undertaken by independent consultants, has not revealed any significant environmental problems.
However, there are a number of issues which will need to be addressed through implementation of the proposed Environmental and Social Action Plan (ESAP) over the next four years:
- Air emission control in the Nitric Acid and Sulphuric Acid Plants and continuous air emission monitoring;
- Water management, salt removal from closed circuit cooling waters;
- Waste reduction and solid waste disposal;
- Demolition of redundant structures and safe disposal of resulting waste;
- Hazardous materials handling;
- Energy conservation;
- Soil and groundwater contamination monitoring programme;
- Occupational Health and safety action plan and training programmes.
According to EBRD, this Project will have a strong demonstration effect in the Ukraine, especially for its energy-intensive sectors of the economy, having some problems with environmental protection
JSC «Stirol», which put into effect breakthrough project in the sphere of water treatment, could become also the same leader in Europe in field of air protection from hazardous emissions.
