Page 9 - bne_April 2021_20210401

bne April 2021 Companies & Markets I 9
the group's activity in Czestochowa, Poland has been public, its operations in Romania have been revealed so far only by deliveries and other services for some of its customers in the country
Founded in 1987, Sandhar is an Indian manufacturer of automotive components, serving OEMs around the world. Products include automotive locking and security systems, automotive vision systems, stampings, operators cabins and structural parts, zinc die casting, aluminium die casting, magnesium die casting, automotive optoelectronics, polymers, painting, plating and coating, commercial tooling, helmets, assemblies, fuel pumps, filters and wiper blades.
The company is listed on the Mumbai BSE Stock Exchange.
Founded in 1921 in Barcelona and moved to its current location 50km away from the city in 1995, Tecfisa (currently
Moscow to issue first regional green bonds
Sandhar Barcelona) was taken over in 2007 by Sandhar. Sandhar Barcelona has casting machines and produces over 200,000 components per day. Major customers are TRW, Autoliv, Bosch, Trelleborg and Saint Gobain.
Sandhar is a prime vendor to many OEs in India, including Honda Cars India. It recently expanded its product portfolio, by venturing into wiper blades, electric fuel pumps, mechanical fuel pumps and starter motors. To fulfil this range diversification, it recently struck a joint venture agreement with Korea’s Daewha Fuel Pump and also included ACG and oil filters into its offering.
Back in 2017, the Indian group began producing two elements of the wiper system assembly of the all-new fully electric Tesla Model 3. According to Sandhar Barcelona, “This is an emblematic project for us because we are supplying two parts from Mexico, used for the wiper system. We are very proud to contribute with our job in this next generation of cars.”
Moscow's borrowing ceiling for 2021 is set at RUB400bn ($5.4bn), but is unlikely that the all of the amount will be allocated to green bonds. Analysts surveyed by Vedomosti expect a 3- to 5-year issue yielding up to 7%
As reported by bne IntelliNews, Russian state energy policy is focusing more and more on ESG as the country belatedly prepares to tackle the EU carbon tax introduction and other "green" challenges.
Recent reports suggest several initiatives are being developed at the same time, such as green certificates, a greenhouse gas (GHG) emission reduction strategy, and an energy efficiency policy. Major state-controlled (Rosneft) and private (Lukoil) oil and gas majors are pledging to deliver green strategies.
“The share of green bonds could reach 60% of the total Moscow government's issuance”
bne IntelliNews
Moscow will be the first Russian region to issue "green bonds" to finance ecological and environmental projects, Vedomosti daily reported on March 1 citing the capital's government.
Moscow's borrowing ceiling for 2021 is set at RUB400bn ($5.4bn), but is unlikely that the all of the amount will be allocated to green bonds. Analysts surveyed by Vedomosti expect a 3- to 5-year issue yielding up to 7%, to be bought out by large banks and investment funds focused on ESG.
The share of green bonds could reach 60% of the total Moscow government's issuance, they believe. The demand is expected to be high, as this would be the first issue of sub-federal green bonds in Russia, as well as the solid credit ratings of Moscow.
Vedomosti reminds that the first Russian company to issue green bonds was Russian Railways with a placement of €500mn bonds yielding 2.2% in 2019.
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