LafargeHolcim Azerbaijan (EBRD-48619)

Countries
  • Azerbaijan
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
Canceled
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
Sep 7, 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
Holcim OJSC
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Jun 20, 2016


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Project Description

This project finances an additional investment in Holcim OJSC, increasing the EBRD's stake in the company. This project aims to continue supporting the company to improve energy efficiency through the introduction of alternative fuels in its fuel mix.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)

This project invests in up to 20% of the shares of Holcim OJSC.

Holcim (Azerbaijan) OJSC is one of the largest cement and clinker producers in Azerbaijan. LafargeHolcim, the world's most advanced group in the building materials industry, acquired a controlling stake in Holcim (Azerbaijan), formerly Garadagh OJSC, during a privatisation process in 1999. Today LafargeHolcim owns more than 80% of the company's share capital and provides managerial, technical and commercial resources.

Contact Information

Rossen Papazov
rossen.papazov@lafargeholcim.com
00994124418888
00994124461881
www.lafargeholcim.com
Sahil settlement, Salyan highway Baku AZ-1083 Azerbaijan

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.