Can-Pack (Ukraine) Ltd. (MIGA-5326)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
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."
Borrower
Can-Pack S.A.
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 Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.70 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.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 9, 2023

Disclosed by Bank Sep 7, 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.

As stated on the project disclosure page, on September 4, 2023, MIGA extended and increased coverage on its guarantee to CANPACK S.A. of Poland covering its existing investment in CANPACK Ukraine LLC. The project involves the operation of an aluminum can production complex in Ukraine. The facility uses highly automated processes and state-of-the-art equipment to manufacture aluminum cans for beverage packaging.

MIGA has supported this project since September 2003, extending coverage several times, making it the Agency's longest-standing project (see, https://www.miga.org/project/can-pack-ukraine-ltd-2, https://www.miga.org/project/can-pack-ukraine-ltd-0, https://www.miga.org/project/can-pack-ukraine-ltd, https://www.miga.org/project/can-pack-ukraine-ltd-1). With this extension, MIGA increased coverage of the existing investment from $20.7 million to $25.7 million and extended the guarantee period by 15 years. The guarantee as extended covers the same risks as in the original guarantee, other than Transfer Restriction.

CANPACK Ukraine LLC, is the largest supplier of beverage cans in Ukraine, and its parent company, CANPACK S.A., is the third-largest in Europe, and the fourth-largest worldwide.

MIGA's support for the project will provide critical risk mitigation and will allow CANPACK to continue operating at full capacity, providing support for and demonstrating commitment to its employees, consumers, and suppliers.

The project is aligned with the low-carbon development goals of the Paris Agreement, and through the implementation of a climate change action plan, CANPACK has committed to align the project with the adaptation and resilience goals of the Paris Agreement. The project uses recycled aluminum in the production process, and CANPACK's sustainability strategy aims to use renewable energy in factory operations and low carbon technologies as well.

MIGA's coverage is facilitated by the Support to Ukraine's Reconstruction and Economy Trust Fund (SURE TF), international donor funding administered by MIGA anddedicated to the humanitarian response in Ukraine.

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 on the company's website, CANPACK S.A. in Kraków was established in 1992 and was founded to produce aluminium beverage cans. The first production line was launched in the beverage can plant in Brzesko in 1994.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Can-Pack S.A. Client 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.

No project contacts provided at the time of disclosure.

Client - CANPACK S.A.:

Address: 29 Marii Konopnickiej Street, 30-302 Kraków, Poland
Phone: +48 12 377 74 03 / +48 12 377 74 63
Email:
Website: https://www.canpack.com/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works