Nikol-Fert Gajdadzievi

completed

revised Summary Of Project Information (SPI)Project NameFYR Macedonia - Nikol-FertRegionEuropeSectorProject No008112Projected Board DateJune 15, 1997Company NameNikol-Fert (the “Company”)Technical Partner and/or Major Shareholders The principal sponsors are the two owners and managers of the Company, Messrs. Nikola and Leonid Gajdadziev. Project Cost Including proposed IFC investment US$9.7 million including IFC loan of $3.0 million.Location of project and Description of site The project will be located adjacent to the Company’s current production site in the southeastern Macedonia village of Nikolic. The village is located on Lake Dojran and borders Greece. Description of Company and Purpose of Project The project is an expansion of the company’s manufacture of steel products for the construction industry. The Company is a medium-sized manufacturer of steel products--meshes, bearers, and cold drawn steel wire--used for the construction sector. The project will allow the Company to manufacture its input requirements of steel wire from billet, thus ensuring security of supply, better quality of inputs, and higher margins. The production will be primarily for Macedonia and the Balkan region. Environmental Category and Issues This is a category B project according to IFC’s environmental review procedure. Environmental issues associated with this project include air emissions, liquid effluents, solid wastes, noise and hazardous waste management. Occupational health and safety issues include general occupational and health and safety in the steel industry. The sponsor will submit adequate information to verify compliance of existing operations with local requirements and World Bank guidelines. The Company’s existing operations will be upgraded if necessary to bring the facility in compliance with applicable guidelines and regulations.The is from the Public Information Center.Date SPI sent to PIC Revised     May 14, 1997 May 20, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).