15:54 24.07.2020

EBRD to grant Novus Ukraine with $100 mln loan for construction of logistics center in Kyiv, chain development

2 min read
EBRD to grant Novus Ukraine with $100 mln loan for construction of logistics center in Kyiv, chain development

The European Bank for Reconstruction and Development (EBRD) will grant Novus Ukraine LLC with a long-term $100 million loan for the extension of its supermarket chain and the construction of a logistics center in Kyiv.

Chief Communications Adviser for the EBRD Anton Usov told Interfax-Ukraine on Friday that the bank's board of directors has approved this decision on July 22.

The EBRD will issue $82.5 million directly, and a part of the loan may be provided by a syndicate, the bank said on its website.

The $277.7 million project will create opportunities for the development of the retailer's activities, construction of the logistics center, involving new suppliers and satisfying future demand, as well as optimizing transportation and logistics. The new center will be energy efficient, the bank said.

The EBRD will also provide its assistance for carrying out an audit of the retailer's plant-growing department.

According to the bank, investment in the project will contribute into the company's production cycle and support its financial indicators.

Novus Ukraine LLC was established in 2008, in the same year the first Novus supermarket was opened in the country. The Novus supermarket chain is developed by BT Invest (Lithuania).

As of June 2020, the network had 47 stores with a total area of more than 170,000 square meters.

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