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Summary of Project Information (SPI) |
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| Project number | 8546 |
| Project name | Ksani Glass Factory |
| Country | Georgia |
| Sector | Nonmetallic Mineral Product Manufacturing |
| Department | Global Manufacturing & Services |
| Company name | JSC Saatksio Szagadoeba MINA |
| Environmental category | B |
| Date disclosed | April 7, 1998 |
| Status | Active |
| Previous Events | Invested: November 2, 1999
Signed: May 28, 1999
Approved: June 15, 1998 |
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Summary Of Project Information (SPI)
| Project Name | Georgia-Ksani Glass Factory |
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| Region | Europe |
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Project No008546
Projected Board DateMay 1998
Company NameS.S. Mina
Technical Partner and/or Major Shareholders
The project will be sponsored and 61% owned by Sisecam, a leading Turkish glass producer with annual revenues in excess of US$1 billion equivalent. IFC and EBRD will each hold 15% share in the project. The Georgian government will retain 8% ownership.
Project Cost Including Proposed IFC Investment
US$25.0 million, including an IFC “A” loan of US$6.0 million and an equity investment of up to US$2.0 million.
Location of Project and Description of Site
The factory is located 35 kilometers west of Tbilisi in the town of Ksani. Ksani is located within 4 kilometers of the main highway and utility lines that cross Georgia from east to west. The project calls for the repair and use of the existing 45,000 square meter facility.
Description of Company and Purpose of Project
The purpose of the project is to take advantage of the growing market for glass packaging in the Georgia and the Caucasus region by producing high quality glass bottles locally, thereby providing relatively low cost, high quality glass packaging to the Caucasus market on a consistent basis. At the completion of the project, the Ksani Glass Factory will have the capacity to produce 56,400 tonnes per annum of glass bottles for agricultural products, cosmetics, mineral water, wine and spirits. The Ksani project would not go forward without IFC’s participation given Sisecam’s concerns about overall political and economic risk. IFC’s long-standing relationship with Sisecam, a developing country sponsor, places IFC in a unique position to assist Sisecam by extending IFC’s umbrella to the Project.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental, occupational health and safety issues associated with the Project include site history, air emissions, waste water treatment, and employee health and safety. The Company will install a new furance to reduce harmful emissions, install new systems in order to reduce work place emissions and noise levels to meet World Bank standards, construct a waste water treatment plant to meet World Bank effluent guidelines and undertake a soil survey to determine the exent of past soil and groundwater contamination and take remedial action where necessary.
The is available from the Public Information Center.
| Date SPI sent to InfoShop | April 7, 1998 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384 |
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| Environmental documents for this project are available at http://www.ifc.org/projects and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html). |
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