Rokiskio Suris

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Financing of Rokiskio Suris’s capital expenditure programme to upgrade and expand production capacity and to increase productivity. The operation will enable Rokiskio Suris to: (i) increase productivity, production capacity and its milk purchasing infrastructure for its main product, aged (fermented) cheese; and (ii) improve environmental performance through the upgrading of its lactose and whey (by-product) processing treatment. The project will: AB Rokiskio Suris is the largest dairy processor in Lithuania and the largest cheese producer in the Baltic states. An equity investment of up to US$ 14 million (EUR 15.5 million) in Rokiskio Suris. This consists of an immediate investment of up to US$ 11.25 million, of which up to US$ 2.5 million is from a private regional investment fund. US$ 16.5 million (EUR 18.2 million) This operation was screened B/1, requiring an environmental audit and an environmental analysis. The audit and analysis were included as part of the general due diligence conducted on this project, and the resulting report confirmed the company as being compliant with both Lithuanian and European Union environmental requirements and standards, excluding the following: The company will incorporate solutions to the above problems into an Environmental Action Plan (EAP) to be agreed with the Bank. The EAP will assist the company in continuing the trend of environmental improvements, which it has instituted in a number of other areas. It will also ensure that the company complies with the relevant national and EU standards. The company will report annually to the Bank on the implementation of the EAP. TC funding is to be used for technical, marketing, environmental and regulatory due diligence.