DFF - Nautilus (EBRD-49245)

Regions
  • Europe and Central Asia
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
Approved
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
Jul 31, 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
Circle Maritime Invest
The holder of the loan, grant, or other investment.
Sectors
  • 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)
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 Feb 20, 2018

Disclosed by Bank Jul 31, 2017


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Project Description

According to EBRD website, EBRD provides a 6-year secured loan to Circle Maritime Invest to support acquisition of two offshore support vessel to be employed in Turkmen sector of the Caspian Sea. It will be used for the acquisition of two anchor handling tug supply vessels which will be chartered by Dragon Oil Turkmenistan Ltd and be employed for the initial charter period in the Turkmenistan sector of the Caspian Sea in connection with the development of the Cheleken oilfield. Currently, it predominantly operates in the Kazakhstan sector of the Caspian and the Project will support to the Company's expansion in Turkmenistan.

It will support market expansion of a non-dominant operator of offshore support vessels and facilitate greater regional integration between Kazakhstan and Turkmenistan by
supporting cross-border provision of services.

Loan amount is not disclosed. 

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

Project Contact: Gulam Aliyev, Circle Maritime Invest
Email Address: Gulam.Aliyev@coc.kz
Telephone No.: +7 (727) 259 73 33
Office Address: 34/95 Karasai Batyr str., 050010 Almaty, Republic of Kazakhstan
Website: www.coc.kz

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.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.