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According to PRW.com, The European Bank for Reconstruction & Development (EBRD) is considering providing a €29.8m loan to Ukrplastic, a leading producer of flexible plastic packaging in Ukraine.

The money would finance its energy efficiency investments, help it launch new products and restructure its balance sheet. It would help the Kiev-based company to notably establish a solvent recovery system, a new lamination line and commission a CHP (combined heat and power) plant.

Noting Ukrplastic’s operations have “undergone significant modernisation over the last 10 years”, an EBRD memorandum said the planned further changes would “have significant environmental benefits, through reduced volatile organic compounds (VOC) emissions, higher operational efficiency and lower energy use”.

It added: “The project will facilitate launch and domestic production of new international quality products currently unavailable in Ukraine.”

The company has also agreed an environmental and social action plan with the EBRD, which includes commitments to:

  • Establish designated noise protection zones in noisy production areas;
  • Review its use of hazardous materials to eliminate or reduce and control their use;
  • Develop and implement a solvents management plan;
  • Improve surface water drainage and minimise water use;
  • Review workforce personal protection equipment; and
  • Set up an official grievance mechanism for workers and public.

Keith Nuthall (PRW.com)

1 November 2010