Toplana Zenica d.o.o. (EBRD-49253)

Countries
  • Bosnia and Herzegovina
Where the impacts of the investment may be experienced.
Specific Location
City of Zenica
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Oct 31, 2018
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
Toplana Zenica d.o.o.
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.84 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 18
Converted using 2018-10-01 exchange rate.
Loan Amount (USD)
$ 20.84 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 61.36 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 53
Converted using 2018-10-01 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 12, 2019

Disclosed by Bank Oct 1, 2018


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Project Description

According to EBRD website, the project will transfer the production of steam and blast air for ArcelorMittal Zenica's steelworks and the production of district heating water for the City of Zenica, from currently ArcelorMittal Zenica to a modern CHP owned by the Borrower. The Project will entail the replacement of all outdated, coal-based steam generators with modern units fully using recovery gases from the steelworks and natural gas (as back up). The transition impact of the proposed project will be derived from:

  • energy efficiency improvements; and
  • improved environmental performance of the CHP in terms of CO2, SOx, NOx and dust emissions, primarily resulting from the replacement of equipment with new BAT units as well as change in fuel mix (discontinuing use of coal and maximising the recovery of waste gases from the steel plant).
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
  • Toplana Zenica d.o.o. -- Implementing Company

Toplana Zenica d.o.o. will be a joint venture incorporated in BiH for the purpose of operating the CHP mainly providing steam and hot air to AMZ, and steam to the City of Zenica. Shareholding of the Borrower will be: AMZ, the main offtaker (BiH, 50%), main equipment provider KPA Unicon (Finland, 15%), Finnfund (development fund of the Finnish government, 15%) and the City of Zenica (20%).

 

Contact Information

Project Contact: Nikhil Mehta
Email Address: Nikhil.Mehta@arcelormittal.com
Website: 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.