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Summary of Project Information (SPI) |
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| Project number | 8173 |
| Project name | SEF Masinomont |
| Country | Macedonia, Former Yugoslav Republic of |
| Sector | Industrial & Consumer Products |
| Department | Global Manufacturing & Services |
| Company name | Masinomont DOO Skopje |
| Environmental category | B |
| Date disclosed | April 24, 1997 |
| Status | Active |
| Previous Events | Invested: December 11, 1997
Signed: November 11, 1997
Approved: June 30, 1997 |
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Summary Of Project Information (SPI)
| Project Name | FYR Macedonia: Masinomont Expansion |
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| Region | Europe |
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Project No008173
Projected Board DateJune 3, 1997
Company NameMasinomont Company
Technical Partner and/or Major Shareholders
Stanko and Zoran Spasic
Project Cost Including proposed IFC investment
Total Project Cost US$ 1.35 mln Total IFC financing US$ 0.6 mln (loan)
Location of project and Description of site
The project’s site is in Istochna Industrialska Zona, located in the outskirts of Skopje, FYR Macedonia.
Description of Company and Purpose of Project
| The US$ 1.35 mln expansion project comprises: (1) construction of new manufacturing facility; (2) purchase of new equipment; (3) working capital.
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Masinomont Co is a small family company, jointly owned by two brothers - Stanko and Zoran Spasic. It manufactures flat glass processing machines and flat glass for table tops and shaped mirrors. The project is an expansion and involves: (1) construction of new manufacturing facility; (2) purchase of new equipment; and (3) working capital. The proposed project is being processed under the Extending IFC’s Reach Program - Small Enterprise Fund, Europe. Through the project IFC would provide long term financing for a local manufacturing company in a country, where such financing is not currently available. The project fits with IBRD/IFC’s strategy in FYR Macedonia to support commercially viable industrial projects, which promote import substitution and have export potential.
Environmental Category and Issues
This is an environmental review category B project. Issues include site location and land use, air emissions, liquid effluents, solid and hazardous wastes, occupational health and industrial safety and fire prevention and emergency response. The sponsor had presented plans to address these issues and demonstrate the project will comply with applicable governmental and World Bank requirements. Programs are in place to recycle treated process water and to control release of air emissions to the atmosphere. Employees will be trained on occupational health and industrial safety issues quarterly.
The is from the Public Information Center.
| Date SPI sent to PIC | April 24, 1997 |
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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