Oil and gas oil terminal funded by the IFC has serious environmental and social effects but does not heed local complaints
| Location |
Russia
|
| Total Cost |
$264 million
|
| Funding |
IFC $100 million
|
| Status |
Active
|
The Russkiy Mir Group is the largest private owner of railroad tank cars in Russia. The Russkiy Mir II project is the second to receive funding from the International Finance Corporation (IFC). The first came in 2004 and provided $15 million for infrastructure. The latest loans from the IFC support the development and construction of the LPG/Fuel Oil terminal and port on the Taman peninsula, Krasnodar oblast, near the city of Anapa on the Black Sea coast, and the purchase of facilities, railcars, and other rail-related infrastructure. Projected export is estimated at nine million tons of oil and one million tons of gas. Environmental concerns include the threat of oil spills, which could seriously jeopardize the local economy, much of which is based on tourism and fishing.
BIC has assisted local civil society groups in filing a formal complaint on the project with the IFC’s Compliance Advisor Ombudsman and in trying to obtain information from the project sponsor about the environmental risks.