SEF Masinomont

completed

Summary Of Project Information (SPI)Project NameFYR Macedonia: Masinomont ExpansionRegionEuropeSectorProject No008173Projected Board DateJune 3, 1997Company NameMasinomont CompanyTechnical Partner and/or Major Shareholders Stanko and Zoran SpasicProject Cost Including proposed IFC investment Total Project Cost US$ 1.35 mln Total IFC financing US$ 0.6 mln (loan) Location of project and Description of site The project’s site is in Istochna Industrialska Zona, located in the outskirts of Skopje, FYR Macedonia.Description of Company and Purpose of ProjectThe US$ 1.35 mln expansion project comprises: (1) construction of new manufacturing facility; (2) purchase of new equipment; (3) working capital. Masinomont Co is a small family company, jointly owned by two brothers - Stanko and Zoran Spasic. It manufactures flat glass processing machines and flat glass for table tops and shaped mirrors. The project is an expansion and involves: (1) construction of new manufacturing facility; (2) purchase of new equipment; and (3) working capital. The proposed project is being processed under the Extending IFC’s Reach Program - Small Enterprise Fund, Europe. Through the project IFC would provide long term financing for a local manufacturing company in a country, where such financing is not currently available. The project fits with IBRD/IFC’s strategy in FYR Macedonia to support commercially viable industrial projects, which promote import substitution and have export potential.Environmental Category and Issues This is an environmental review category B project. Issues include site location and land use, air emissions, liquid effluents, solid and hazardous wastes, occupational health and industrial safety and fire prevention and emergency response. The sponsor had presented plans to address these issues and demonstrate the project will comply with applicable governmental and World Bank requirements. Programs are in place to recycle treated process water and to control release of air emissions to the atmosphere. Employees will be trained on occupational health and industrial safety issues quarterly.The is from the Public Information Center.Date SPI sent to PIC April 24, 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).