E-PIIM DAIRY EXPANSION

Promoter – Financial Intermediary

PIIMANDUSUEHISTU E-PIIM

Location

• Estonia

Description

The project scope is the construction of a greenfield dairy plant located in Paide, Estonia. The new plant will process milk and produce high value-added dairy products such as hard and semi-hard cheese, pasteurized cream and sweet whey powder. The new plant will process up to 1 150 tons per day of milk, as well as 85 tons per day of whey concentrate, and it will produce per year: (i) 32 600 tons of hard and semi-hard cheese, (ii) 11 600 tons of fresh pasteurized cream; (iii) 26 800 tons of sweet whey powder.

Objectives

The project is a greenfield dairy plant that will complement the promoter's existing assets. The proposed investment underpins the promoter's strategy to increase the competitiveness of its business through expansion of capacity.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 29 million

Total cost (Approximate amount)

EUR 154 million

Environmental aspects

The project is expected to be operated and implemented in conformity with applicable national and EU environmental legislations.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (Directive 2014/24/EU or 2004/18/EC where applicable), then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/24/EU or 2004/18/EC where applicable), as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 11/05/2022