Release date: 10 August 2009
Promoter – Financial Intermediary
Trevi - Finanziaria Industriale S.p.A. (Trevi), an Italian mechanical engineering company specialising in the design and manufacturing of oil, gas and water drilling equipment and in foundation engineering. Trevi is based in Cesena and listed on the Milan Stock Exchange.Location
Description
The project concerns investments in Research, Development and Innovation (RDI) related to the design and manufacturing of drilling and foundation engineering equipment covering the period from 2009 to 2013 and taking place at Trevi’s RDI facilities in Italy.
Objectives
Further development of Trevi’s portfolio of products and technologies to expand their field of application, enhance their performance, lower the environmental impact and improve the health and safety conditions for operators.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 50 million.
Total cost (Approximate amount)
EUR 110 million.
Environmental aspects
A portion of the project concerns investments in research and engineering activities carried out in existing facilities and within the scope and limits for which authorisation has been received.An Environmental Impact Assessment (EIA) is therefore not required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. Another portion of the project concerns the design, erection, and field testing of a prototype rig whose EIA requirement would depend on its capacity, physical location of operation and length of use, as it could either fall in Annex I or II of the Directive. The Bank’s services will verify details, including the ones related to EIA requirements, during the project’s due diligence. In addition, the project is expected to result in new drilling techniques and equipment with improved environmental characteristics and thereby reduce the potentially negative environmental impact of exploration drilling.
Procurement
The promoter is a private company, not operating in the utilities sector, and is not covered by EU Directives on procurement.
Status
Signed - 18/06/2010
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).