NEFCO has granted a new loan worth EUR 350,000 for financing cleaner production technology at OJSC Kiev Margarine Factory in Ukraine.
The loan, which will be disbursed from the corporation’s Facility for Cleaner Production, is intended to refurbish the factory’s production line for edible fats and oils and reduce energy consumption by some 60,000 kWh per year.
As part of the refurbishment process, the factory’s heat exchange system will be upgraded by, among other things, installing more efficient plate heat exchangers, pumps and process sequence controls.
OJSC Kiev Margarine Factory is an open joint-stock company that produces margarine, refined oils, mayonnaise, vegetable oils and fats as well as food fats, mainly for the domestic market. The company’s turnover in 2008 was EUR 37 million.
The entire project is expected to reduce carbon dioxide emissions by 240 tonnes a year. The factory refurbishment process will also contribute to minor reductions of sulphur oxides, nitrogen oxides and particulates.
The Facility for Cleaner Production was established in 1997 to promote technological investments in industrial projects in order to curb the emission of harmful substances into the environment. The facility can finance up to EUR 350,000 or 90 per cent of the investment cost for such projects in the form of subsidized loans.
Since the establishment of the facility, NEFCO has granted loans worth EUR 15.8 million for 69 projects. The facility’s current geographical focus is mainly on Russia and Ukraine.
Because of the increased demand from existing as well as new clients for its services, in September last year NEFCO’s Board of Directors decided to allocate an additional EUR 4 million to the facility.