Texol (EBRD-47758)

Countries
  • Kazakhstan
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
Dec 14, 2016
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
TexolTransLLP
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Transport
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)
$ 51.50 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 USD 51,500,000.00
Converted using 2017-04-11 exchange rate.
Project Cost (USD)
$ 103.00 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 USD 103,000,000.00
Converted using 2017-04-11 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Nov 10, 2016


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

Project Description
This project provides a loan to TexolTransLLP to restructure its existing debt of USD$88 million, and to finance new capital expenditures of up to USD$15 million. This financing will also a) support a private wagon fleet owner in the state-dominated railway sector; b) improve Texol's corporate governance practices; and c) deliver cross-border outward foreign direct investments by a Kazakh private company.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
The EBRD will keep up to 50% of the total loan (up to USD$51 million) on its own books, while the balance will be offered to commercial banks. TexolTransLLP is the owner of one of the largest fleets of liquid petroleum gas (LPG) tank wagons in Kazakhstan.
Contact Information
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.