SEF Akmeat

completed

Summary Of Project Information (SPI)Project NameBosnia-Herzegovina - Akmeat     RegionEuropeSectorProject No008336Projected Board DateFebruary 13, 1998Company NameAkova Impex, d.o.o.Technical Partner and/or Major Shareholders The sponsors of the project are Akova Impex, d.o.o. and SIPAD Komerc. Akova Impex is a wholly privately owned retail/trade operation, with Mr. Raif Dzafic as its main shareholder with over 70% of shares. SIPAD-Komerc, is a state-owned enterprise concerned with export/import and retail operations. The two sponsors will establish a joint venture company, namely Akmeat, to engage in the production of processed meat products. Akova Impex, d.o.o. will be the majority shareholder in the joint venture company.Project Cost Including Proposed IFC Investment The total project cost is approximately DM8 million, which will be partially financed with an IFC loan of approximately DM3.8 million. The project was identified and is being processed under IFC’s Extended Reach Program.Location of Project and Description of Site The project will be located in an existing building that was damaged during the war, but will be rehabilitated and refurbished. The site at Blazuj is a small commercial area that is approximately 15 kilometers from the center of the city of Sarajevo.Description of Company and Purpose of Project(include IFC’s Role and Development Impact) The project involves the rehabilitation and refurbishement of an existing building for use as a meat processing plant and cold storage facility. The plant production capacity will be approximately 3,000 tons per year of fresh and frozen meats (poultry, beef, and lamb)and processed meat products (including salami, hot dogs, hamburgers and ham in casings). No slaughtering facility is included. The objectives of the project are to (1) re-establish domestic production capacity for processed meat products to reduce reliance on imports of processed meats, and to (2) create employment and increase general skill levels.Environmental Category and Issues This is a category B project according to IFC’s environmental review procedures. Environmental, occupational health and safety issues associated with this project include: liquid effluents, solid wastes, fire and explosion prevention and plant hygiene and general employee health and safety. Air emissions are minor and are filtered to remove particulates. Liquid effluents receive pre-treatment on site and are discharged to the municipal sewer system for downstream treatment at the Sarajevo treatment facility. Solid wastes, including waste organic matter is minimized in the process and recycled to the extent possible. Standard emergency response and health and safety measures are incorporated into the facility. The is from the Public Information Center.Date SPI sent to InfoShopJanuary 13, 1998 “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) 473-7711facsimile: (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).