The European Bank for Reconstruction and Development (EBRD) arranges syndicated loan of Euro 116 million to LLC Kronospan UA. The company plans to expand its production in Ukraine with the construction of a new facility in Novovolynsk, western Ukraine, as EBRD said in the press release received by Lesprom Network.
Specialised energy efficient equipment, including a 45 MW biomass boiler energy plant, a new transformer unit and a new precipitator filter will provide an alternative power supply solution, cut energy losses and help reduce dust emissions.
High value-added products manufactured at these facilities are expected to lead to oriented strand board (OSB) imports substitution and more exports from Ukraine to the EU single market and other countries.
The EBRD will be the lender of the record for the amount of Euro 116 million, while Euro 50 million out of the total will be syndicated to commercial banks Raiffeisen Bank International AG and Raiffeisenlandesbank Oberösterreich under an A/B loan structure.
