Alkaloid A.D. Summary Of Project Information (SPI)       Project Name:    Former Yugoslav Republic of Macedonia: Alkaloid A.D. ("Alkaloid")      Region:Central and Southern Europe   Sector:   Project No:009108   Projected Board Date:May 10, 1999   Company Name:Alkaloid A.D., "Alkaloid"   Technical Partner and/or Major Shareholders    	Approximately 93% of Alkaloid''s shares are in private hands at present, with no single shareholder owning more than 8% of the total shares.  Most of Alkaloid''s shareholders are present and former employees.  The remaining 7% of the Company''s shares are held by the pension fund.    Project Cost Including proposed IFC investment    	The Project is expected to cost DM64.1 million (approximately US$38.2 million), of which IFC would provide up to DM15.0 million (approximately US$8.9 million) in the form of a convertible loan from IFC''s own account.    Location of project and Description of site    	The new pharmaceutical plant will be constructed adjacent to Alkaloid''s existing plant in Skopje on a site already owned by the Company.  All of Alkaloid''s operations are located in and around Skopje.    Description of Company and Purpose of Project    	Alkaloid, a Skopje-based joint stock company manufacturing pharmaceuticals, chemicals, cosmetics, coatings, and food products, plans to undertake an investment program to (i) develop a new pharmaceutical production facility to comply with Good Manufacturing Practice (GMP) standards, and (ii) upgrade the Companys related pharmaceutical production facilities.  These changes should enable Alkaloid to significantly increase its exports by penetrating Western European markets.  By supporting a well-managed Macedonian company such as Alkaloid, IFC will help to boost the markets overall perception of the country, which should serve to encourage other lenders and investors to consider projects in Macedonia.  The project fits well with IFCs strategy to promote commercially viable productive enterprises in Macedonia which provide for critically needed modern technology and management know-how and which have beneficial foreign exchange impacts.    Environmental Category and Issues    	This is a category B project.  IFC will require that an environmental audit be undertaken of the existing manufacturing component of the Company.  With respect to the new pharmaceutical operation, the environmental, occupational, and safety issues associated with this project include liquid effluent, solid waste disposal, and disposal of pharmaceutical products; adverse drug effects and product recalls; fire prevention and emergency response; and workplace health and safety, particularly air quality.      The  is  March 1, 1999 from the InfoShop.       Host country location of environmental documents:    Alkaloid A.D.   Bul. "Aleksandar Makedonski" 12   91000 Skopje, FYR Macedonia      Date SPI sent to InfoShop:February 16, 1999   This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).