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Problem Project

Russkiy Mir II

Oil and gas oil terminal funded by the IFC has seriously disruptive environmental and social effects but does not heed locals' complaints

Location Russia
Funding $264 million total, IFC lending at $100 million
Status Active

The Russkiy Mir Group is the largest private owner of railroad tank cars in Russia. Financing from the International Finance Corporation (IFC) for this project supports 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. The project’s projected export is estimated at nine million tons of oil and one million tons of gas. The 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 attempting to obtain information from the project sponsor about the environmental risks.  

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See also

Europe/Central Asia International Finance Corporation Energy & Extractive Industries Environmental & Social Policies

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Last updated 12 May 2008
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