Arcelor Mittal Kryvyi Rih (EBRD-47584)

Countries
  • Ukraine
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 4, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ArcelorMittal Group
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 238.36 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 200,000,000
Converted using 2017-09-04 exchange rate.
Project Cost (USD)
$ 417.14 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 350,000,000
Converted using 2017-09-04 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 14, 2017

Disclosed by Bank Sep 4, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
This project finances ArcelorMittal Group for capital investments at its Ukrainian plant, ArcelorMittal Kryvyi Rih. These include improvements in energy efficiency, environmental performance, and competitiveness.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
ArcelorMittal S.A., or the borrower, a company registered in Luxembourg and the top holding company for ArcelorMittal Group of companies, the world's leading integrated mining and steel company with revenues of USD 57 billion in 2016. The loan will be provided to ArcelorMittal S.A. and will then be on-lent to the group's Ukrainian subsidiary PubJSC ArcelorMittal Kryvyi Rih, a public joint stock company majority owned by the borrower (95.13 per cent) and established in Kryvyi Rih, Ukraine.
Contact Information
Paul Weigh Paul.Weigh@arcelormittal.com www.arcelormittal.com ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.