Business
First disbursement under EBRD Loan Agreement
First disbursement under EBRD Loan Agreement.
About this update from Ukrproduct Group Ltd
[{"type":"text","content":"\n \nRNS Number : 4701M Ukrproduct Group Ltd 16 August 2011 \n \n\n \n \nFOR IMMEDIATE RELEASE August 16, 2011\n \n \nUKRPRODUCT GROUP LIMITED ANNOUNCES \n FIRST DISBURSEMENT UNDER EBRD LOAN AGREEMENT\n \nKyiv, Ukraine - August 16, 2011 - Ukrproduct Group (\"Ukrproduct\" or \"the Group\") (AIM: UKR), a leading producer and distributor of branded dairy products in Ukraine, today announces the drawdown of the first Euro 2.5 million from its loan facility with the European Bank for Reconstruction and Development (EBRD). The Euro 11 million loan from the EBRD's Agribusiness Sustainability Investment Facility was announced on 21 April 2011 and will fund the reconstruction of Ukrproduct's dairy plant in Starokonstantyniv. The investment is expected to significantly improve the productivity, energy efficiency and sustainability of the plant. \n \nPreparatory works are already underway, including development of the design for the new milk reception and milk processing units and removal of obsolete equipment. Ukrproduct has concluded agreements for equipment supply with two leading European manufacturers. \n \nThe Group will provide further updates on the progress of the upgrade project under the EBRD loan in due course.\n \n***\nTo view previous announcements related to EBRD loan or for further information, please visit www.ukrproduct.com or contact:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nUkrproduct Group Ltd. \nSergey Evlanchik\nChief Executive Officer \nTel: +38 044 502 8014\[email protected] \n\n\nPBN\nLaura Citron\nFinancial Public Relations\nTel. + 44 (0) 7912 601 137 \[email protected]\n\n\n\n\n\n\n\nWH Ireland Limited \nRobin Gwyn \nTel: +44 ...