DFF - Odysseus (EBRD-53103)

Countries
  • Slovenia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jesenice, Ravne na Koroškem
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
Active
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
Sep 28, 2021
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
SIJ Metal Ravne d.o.o., SIJ Acroni d.o.o.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 29.22 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 2021-09-28 exchange rate.
Project Cost (USD)
$ 268.78 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 230
Converted using 2021-09-28 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 25, 2023

Disclosed by Bank Feb 17, 2023

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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.

EBRD had provided a loan of up to EUR25 million to SIJ Acroni d.o.o. and SIJ Metal Ravne d.o.o., the fully owned subsidiaries of Slovenska Industrija Jekla d.d. ("Slovenian Steel Group","SIJ" or the "Company"). The Bank's financing was part of an upto EUR230 million, long term debt facility.
SIJ operates two electric arc furnace steel plants, namely SIJ Acroni and SIJ Metal Ravne that are responsible for the Company's flat and long steel products respectively.
The Project contributed to the Company's energy efficiency, investment programme.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

EBRD had provided up to EUR 25 million senior loan with the proceeds to be used to finance energy efficiency improvement capex investments.

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.

From the EIB's website:

Slovenska Industrija Jekla d.d. (Slovenian Steel Group) is a niche specialised steel producer (stainless quarto plates, alloyed tools, electrical and special steels) incorporated in the Republic of Slovenia.
SIJ Acroni d.o.o. and SIJ Metal Ravne d.o.o. [are] the fully owned subsidiaries of Slovenska Industrija Jekla d.d..

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - SIJ Acroni d.o.o. Client Industry and Trade
- - - - SIJ Metal Ravne d.o.o. Client Industry and Trade
- - - - Slovenska Industrija Jekla d.d. Parent Company Industry and Trade

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.

Clients:

- SIJ Acroni d.o.o.:

Address: Cesta Borisa Kidrica 44, 4270 Jesenice, Slovenija
Phone: +386 4 584 10 00
Fax: +386 4 584 11 11
Email: info@acroni.si
Website: https://sij.acroni.si/en/

- SIJ Metal Ravne d.o.o.:

Address: Koroška cesta 14, 2390 Ravne na Koroškem, Slovenija
Phone: +386 2 870 7000
Fax: +386 2 870 7219
Email: info@metalravne.com
Website: https://sij.metalravne.com/en/

Parent company - Slovenska Industrija Jekla d.d. (Slovenian Steel Group):

Igor Malevanov
Email: igor.malevanov@sij.si
Phone: +38 612429828
Address: Gerbiceva 98 1000 Ljubljana, Slovenia
Website: http://www.sij.si/en/

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