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Project Name Sustainable Infrastructure in relation to “ZapSibNefteKhim” Project
Country The Russian Federation
Sector Sustainable Infrastructure
Board Approval Date 18 September 2018
Total Project Cost USD 9,424 million
Initial Limit of NDB Financing USD 300 million
Current Limit of NDB Financing USD 300 million
Borrower SIBUR
Implementing Agency ZapSibNefteKhim LLC
Project Context The Project will enhance environmental safety at ZapSibNefteKhim polyolefin complex under SIBUR management.
Project Objective The objective of the Project is to construct general purpose infrastructure including facilities that contribute to protecting environment, saving water and energy resources through modern and clean technologies for reduced environmental impact. The Project is in alignment with the NDB’s objective to promote infrastructure and sustainable development.
Project Description The NDB loan through the modality of Non-Sovereign Project Loan was used by SIBUR for construction of general infrastructure, and to a large extent for the financing of environmental protection measures.
Expected Benefits The benefits of the Project are: (1) contribution to the effective utilization of Russia’s midstream feedstock by implementing international best practices; (2) creation of new jobs; (3) improvement of the environmental footprints through financing of environmental protection measures such as wastewater discharge and treatment facilities.
Environmental and Social Aspect The Project was classified as category A in accordance with NDB’s Environment and Social Framework (ESF). It was also categorized as highest E&S category by the Russian environmental regulations, and classified as Category A by the Equator Principles and IFC E&S performance Standards.
Financing Aspect The total cost of the Project was USD 9,424 million financed through 53.6% of debt and 46.4% of equity.
Implementation The Project was completed, commissioned and put into operations.