Kulon Yugros

completed

This greenfield project involves the construction and operation of a Class A warehouse facility of approximately 55,000 sq. m, including office premises, necessary auxiliary facilities and communications, designed for storage of consumer goods at ambient temperature. The facility is operated by ZAO Kulon-Yugros (“the company”), and located near the town of Mineralnye Vody, Stavropol region, a southern region of the Russian Federation, Russia. The project will be developed in two phases. Phase I including construction of warehouse and office facilities with a footprint of 28,000 sqm; and Phase II including the construction of a warehouse facility with an additional footprint of 27,000 sq. m.The company is a 50/50 joint venture between Espro Group (former IFC client – Kulon Project # 20337) and Meridian-B, a Russian construction company. Espro Group (the “sponsor”), a leading sponsor in the Project, is a well-known to IFC. IFC invested US$7.5 million in the Kulon project involving the construction of two warehouse facilities in Moscow and the Moscow region in 2004-2005.