Mali Lošinj, 29.11.2007 Jadranka d.d., Jadranka hoteli d.o.o. Mali Lošinj and EBRD – European bank for Reconstruction and Development, London, signed a letter of intention for entering of EBRD into ownership with Jadranka hotels d.o.o. Following the procedure, prior to entering into the joint ownership, EBRD shall check the environment protection conditions, fire prevention and safety at work and issue the report afterwards.
1. Name of the project: Hrvatska – Jadranka hotels 2. Description of the project Suggested project includes investments into the Company Jadranka hotels d.o.o. Transaction is primarily aimed at redevelopment of existing hotel facilities through realization of significant capital investment with a goal of upgrading existing hotels to international 3-4 stars. 3. Protection category and justification B/1 requests an on-site audit and evaluation. Project may encompass few specific requests related to the environment protection that need to be tackled. 4. Audit results Examination of environmental protection conditions and procedures was done by an EBRD expert, who visited the facilities of the Company and furthermore reviewed the data concerning environmental protection conditions in the facilites. A visit to Mali Lošinj included interviews with the mayor's office. The audit confirmed the following: the project for improving the sewage treatment plant and sewage system on the town level, financed by the World Bank, is currently in progress. The town plans to improve the existing system for solid waste disposal, which is currently being disposed in the open waste dump.The priority in town is improvement of infrastructure to protect the island's environment and ensure the sustainability, especially in the sector of tourism. By the end of 2008 when Jadranka hotels d.o.o. obtains the ISO 14001 certificate, all hotels will be operating in line with the environmental protection measures. Furthermore, the company plans to engage an expert specialized for safety at work and fire prevention in the hotels to identify all the key problems and their solutions. 5. Obligation for implementation The project will aslo include making of the Environmental Action Plan and LFSAP. The project has to be made in accordance with the national and EU environmental protection, health care and safety standards. It also involves implementing the aforesaid plans (EAP and LFSAP) and submission of annual reports to EBRD. The environmental protection actions will be controlled by the bank in form of annual reports and if needed, periodical on-site visits. |