Avtokran

completed

The project is to assist Avtokran Joint-Stock Company (“Avtokran” or the “Company”), Russia’s leading producer of truck mounted cranes, to complete its modernization program for 2008-2010 and partially refinance its short term debt (the “Project”). IFC will support the modernization, capacity optimization and environmental improvements of Avtokran’s two main production sites located in frontier regions, which will allow the Company to: (i) further penetrate the Russian and CIS markets, (ii) diversify into higher value added products, and (iii) upgrade product quality and emission standards.Avtokran has requested IFC and EBRD to provide loans to assist the Company with the financing of the Project. The Company has an existing relationship with EBRD.Avtokran is the largest machine-building plant in Russia producing truck mounted cranes, with hoisting capacity of up to 100 tons, and is the only producer of 100-ton truck mounted cranes in Russia. Avtokran has full cycle of mechanical operations including foundry, press-forging, mechanical-treating, welding, assembling, and painting.