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Summary of Project Information (SPI) |
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| Project number | 9108 |
| Project name | Alkaloid A.D. |
| Country | Macedonia, Former Yugoslav Republic of |
| Sector | Chemicals |
| Department | Global Manufacturing & Services |
| Company name | Alkaloid A.D. Skopje |
| Environmental category | B |
| Date disclosed | February 16, 1999 |
| Status | Completed |
| Previous Events | Invested: July 5, 2000
Signed: July 20, 1999
Approved: June 30, 1999 |
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Summary Of Project Information (SPI)
| Project Name: | Former Yugoslav Republic of Macedonia: Alkaloid A.D. ("Alkaloid") |
Region:Central and Southern Europe
Sector:
Project No:009108
Projected Board Date:May 10, 1999
Company Name:Alkaloid A.D., "Alkaloid"
Technical Partner and/or Major Shareholders
Approximately 93% of Alkaloid's shares are in private hands at present, with no single shareholder owning more than 8% of the total shares. Most of Alkaloid's shareholders are present and former employees. The remaining 7% of the Company's shares are held by the pension fund.
Project Cost Including proposed IFC investment
The Project is expected to cost DM64.1 million (approximately US$38.2 million), of which IFC would provide up to DM15.0 million (approximately US$8.9 million) in the form of a convertible loan from IFC's own account.
Location of project and Description of site
The new pharmaceutical plant will be constructed adjacent to Alkaloid's existing plant in Skopje on a site already owned by the Company. All of Alkaloid's operations are located in and around Skopje.
Description of Company and Purpose of Project
Alkaloid, a Skopje-based joint stock company manufacturing pharmaceuticals, chemicals, cosmetics, coatings, and food products, plans to undertake an investment program to (i) develop a new pharmaceutical production facility to comply with Good Manufacturing Practice (“GMP”) standards, and (ii) upgrade the Company’s related pharmaceutical production facilities. These changes should enable Alkaloid to significantly increase its exports by penetrating Western European markets. By supporting a well-managed Macedonian company such as Alkaloid, IFC will help to boost the market’s overall perception of the country, which should serve to encourage other lenders and investors to consider projects in Macedonia. The project fits well with IFC’s strategy to promote commercially viable productive enterprises in Macedonia which provide for critically needed modern technology and management know-how and which have beneficial foreign exchange impacts.
Environmental Category and Issues
This is a category “B” project. IFC will require that an environmental audit be undertaken of the existing manufacturing component of the Company. With respect to the new pharmaceutical operation, the environmental, occupational, and safety issues associated with this project include liquid effluent, solid waste disposal, and disposal of pharmaceutical products; adverse drug effects and product recalls; fire prevention and emergency response; and workplace health and safety, particularly air quality.
The is March 1, 1999 from the InfoShop.
| Host country location of environmental documents: | Alkaloid A.D.
Bul. "Aleksandar Makedonski" 12
91000 Skopje, FYR Macedonia |
Date SPI sent to InfoShop:February 16, 1999
“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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