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| Mytischi heating |
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| Summary of Proposed Investment |
| This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. |
| Project number | 27777 |
| Company name | Municipal Unitary Enterprise "Upravlenie Zakazchika Zhilischno-Kommunalnogo Khozyaistva" |
| Country | Russian Federation |
| Sector | Other (For Non-Investment Projects) |
| Environmental category | B |
| Department | Sub-National Finance |
| Status | Pending Disbursement |
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| Date SPI disclosed | May 5, 2009 |
| Projected board date | June 22, 2009 |
| Previous Events | Signed: June 25, 2009
Approved: June 22, 2009 |
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| View Environmental & Social Review Summary (ESRS), click here |
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| Overview |
Sponsor/Cost/Location |
Development Impact |
Contacts |
Attachments |
| Project description |
| The proposed investment would support the implementation of its heating infrastructure rehabilitation program of the city of Mytischi (the “City”) in 2009-2010. The Project, which would be a continuation of the IBRD Municipal Heating Project (2003-2008), is expected to finance installation of 240 automated individual heat substations and rehabilitation of about 44km of the distribution network using modern insulated heat pipes. |
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| Project sponsor and major shareholders of project company |
| Municipal Company UEZ ZhKKh (“Upravlenie Edinogo Zakazchika Zhilischno-Kommunalnogo Khozyaistva”) (the “Company”), a municipal unitary enterprise wholly owned by the City Settlement of Mytischi, is a management agency for the maintenance of municipal housing assets and carries out investments in local public infrastructure, including housing sector and local utilities, on behalf of the City. |
| Total project cost and amount and nature of IFC's investment |
| The total project cost is estimated at RUR 833 million (approximately $23.8 million). The proposed IFC investment is a local currency senior loan of up to RUR 300 million (approximately $8.4 million). The City will fund the rest of the program from its own sources. |
| Location of project and description of site |
| Project investments will be implemented in the city of Mytischi, Moscow region, Russian Federation. |
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| Anticipated development impact of the project |
| Rehabilitation of the heating infrastructure in the city to be supported under the proposed project will improve the quality of heating and hot water services to residents, reduce heat losses and maintenance costs, improve energy efficiency. Ultimately the project will contribute to improving the living conditions and environment in the City. |
| IFC's expected development contribution |
| The proposed loan will provide the company, acting on behalf of the City, with long term financing that is currently not possible to secure from commercial banks or capital markets, to implement the Project. Also, as a result of the proposed investment the company and the city would benefit from gaining further access to World Bank Group’s experience in the area of energy efficiency, helping secure successful implementation of the project. |
| Environmental and social issues - Category B |
| This is a category B project according to IFC’s environmental and social review procedure. A summary of IFC’s environmental and social review findings for the project including the rationale for the B categorization is publicly available in the Environmental and Social Review Summary (ESRS) disclosed through IFC’s external website. |
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| For inquiries about the project, contact: |
Mr. Sidorov Andrei Nikolaevich,
Director of the municipal management company “UEZ ZhKKh”
6, Sukromka
394018, Mytischi,
Moscow Region Russian Federation
e-mail: mupuez@yandex.ru/
Tel.: +7 495 581 61 83
Fax: +7 495 582 76 22
Mr. Kazanov Yury Nikolaevich,
General Director, “Mytischi Teploset” company
20 Kolpakova St,
394008, Mytischi,
Moscow Region, Russian Federation
http://www.m-teploset.ru/
e-mail: zteploset@mtu-net.ru
Tel.: +7 495 583 0700
Fax: +7 495 583 8721 |
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| For inquiries and comments about IFC, contact: |
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster |
| Local access of project documentation |
| Project documentation is available at the above locations. |
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