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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
OOO Ken-Pak Zavod Upakovki
Project ID
8007
Fiscal year
2010
Status
Active
Guarantee holder
Tapon France S.A.S.
Investor country
France
Host country
Russian Federation
Environmental category
B
Sector
Manufacturing
Date SPG disclosed
July 07, 2009
Project Board date
September 03, 2009
Gross exposure
 $76.0 million
Project type
Non-SIP
ESRS
ESRS for OOO Ken-Pak Zavod Upakovki in the Russian Federation

View Summary of Proposed Guarantee


Project Description

MIGA has issued guarantees in the amount of $76 million covering Tapon France S.A.S (“Tapon’s”) investments in the construction of a new aluminum beverage can production facility in the city of Volokolamsk. The MIGA guarantees are covering Tapon’s equity investment of $38 million and shareholder loans of $44 million. The coverage for the equity investment and shareholder loans is 15 and eight years, respectively, against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project will help meet the growing demand for aluminum beverage cans in Russia and is expected to strengthen competition in the industry  and improve production process efficiencies and product quality, by bringing in internationally competitive managerial practices. The production capacity for the new facility is expected to reach approximately one billion cans per year. 

The project will involve job creation as well as the transfer of state-of-the art technology and the introduction of European Union standards and practices at the Russian production facility.

The project is aligned with the World Bank Group’s Country Partnership Strategy for Russia, which calls for promoting economic diversification for sustainable growth, facilitating investment in non-traditional sectors and, supporting technological modernization in the manufacturing sector.

 
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