According to EBRD website, the project assumes the construction of an Oriented-Strand Board (OSB) production facility to meet the growing demand for OSB products in Ukraine and in the export markets. Kronospan will also invest into creation of cluster for furniture producers, a new transformer substation, bio-mass boiler and WESP filter at the site.
A senior loan of up to €116 million, of which up to €40 million would be syndicated in A/B-loan structure.
Kronospan UA is a wholly-owned Ukrainian subsidiary of Kronospan Holdings PLC, Cyprus.
Kronospan is the market leader in the wood-based panel sector. It manufactures wood-based panel products at over 40 sites and has 16 distribution centres in 21 countries.
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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 email@example.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.