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KfW IPEX-Bank jointly with UniCredit Bank Austria and Raiffeisen Zentralbank finances sodium hypochlorite plant in Moscow

07.07.2009
Substitution of chlorine gas in drinking water purification

A German-Austrian banking consortium formed by KfW IPEX-Bank GmbH as the coordinating bank, UniCredit Bank Austria AG (Bank Austria) and Raiffeisen Zentralbank Österreich AG (RZB), provides EUR 156 million for the construction of a sodium hypochlorite plant in Moscow.

KfW IPEX-Bank is contributing half the loan amount, or EUR 78 million, while UniCredit Bank Austria AG and RZB are each providing EUR 39 million. The loan term is around 10 years. The total investment costs add up to approximately EUR 195 million.

Commissioning is scheduled for 2012, after which time the plant will produce 62,500 tonnes of sodium hypochlorite a year by membrane electrolysis. Sodium hypochlorite is used for drinking water purification and as a replacement for the more common but dangerous chlorine gas. The municipality of Moscow has decided to phase in this technology for sterilisation in the purification of drinking water by municipal waterworks.

This constitutes an important contract for the water industry and engineering sector in Germany and Austria. WTE Wassertechnik GmbH of Essen, a subsidiary of EVN AG, the biggest power supply company of Lower Austria, has been commissioned to plan, erect and operate the plant. The subcontractor is Chemieanlagenbau Chemnitz GmbH CAC. All three are renowned enterprises with long engineering experience. The banks have a good business relationship with WTE and EVN that goes back many years.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of July 2009) and is represented in the key economic and financial centres throughout the globe.

About Raiffeisen Zentralbank Österreich AG

Raiffeisen Zentralbank Österreich AG (RZB) is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group. It is a leading corporate and investment bank in Austria and also considers Central and Eastern Europe (CEE) as its home market. RZB is the only Austrian bank with a global network of business units reaching all important finance centres around the globe. It is also present in Asia with branches and representative offices in nine locations. Via listed subsidiary Raiffeisen International Bank-Holding AG, RZB operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The group's nearly 62,000 employees service 14.9 million customers via more than 3,200 business outlets.

About UniCredit Bank Austria AG

Bank Austria is the subholding of UniCredit Group for Central- and Eastern Europe. UniCredit is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, with over 40 million clients and more than 10,200 branches, approximately 174,000 employees at 31 December 2008. In the CEE region, UniCredit operates the largest international banking network with over 4,000 branches and outlets, where around 78,000 employees serve more than 28 million customers. The Group operates in the following CEE countries:

Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

Dela Strumpf | presseportal
Further information:
http://www.kfw-ipex-bank.de

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