DFF - Zeppelin SSD II (EBRD-56153)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Armenia
  • Ukraine
  • Uzbekistan
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 20, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Zeppelin GmbH
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
  • Mining
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 28.22 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 25
Converted using 2025-05-20 exchange rate.
Loan Amount (USD)
$ 28.22 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 25
Converted using 2025-05-20 exchange rate.
Project Cost (USD)
$ 28.22 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 25
Converted using 2025-05-20 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 20, 2025

Disclosed by Bank Jun 18, 2025

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

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of the participation of EUR25 million in the Schuldschein, a German law senior unsecured loan notes, issued by Zeppelin GmbH (Zeppelin).

The Bank's financing will support Zeppelin's operations in Uzbekistan, Armenia, Ukraine and other EBRD countries of operation.

The Bank will invest in Schuldschein which includes KPIs/targets to reduce the fresh water and energy consumption for operations in Uzbekistan and Armenia.
The Bank has been supporting Ministry for Mining Industry and Geology of Uzbekistan in the implementation of the new subsoil law prepared in cooperation with the EBRD by developing regulations, updating the permitting framework, promoting the law and investment opportunities, administering a pilot permit award process, and conducting capacity building and training activities, ensuring consistency with the EU and international best practices.

The project will include technical assistance to the Ministry for Mining Industry and Geology of Uzbekistan in the implementation of the new subsoil law prepared in cooperation with the EBRD by piloting an auction/tender-based licensing process for existing deposits.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Zeppelin is one of the leading international groups active in the supply and service of mining and construction equipment as well as power systems solutions. Zeppelin has been a distribution partner of Caterpillar Inc. since 1954 in Germany and in more than ten countries in Europe and Eurasia, including EBRD's countries of operation, including Armenia, Ukraine and Uzbekistan.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Caterpillar Inc Undisclosed Construction contracts with Zeppelin GmbH Client Construction
JSC Navoi Mining & Metallurgical Company (JSC NMMC) Buyer Mining contracts with Zeppelin GmbH Client Construction

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Zeppelin GmbH:

Rolf Steinemann - Head of Group Treasury
Email: Rolf.Steinemann@zeppelin.com

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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

How it works

How it works