Release date: 17 September 2012
Promoter – Financial Intermediary
VOESTALPINE AGLocation
Description
The project consists of: (i) Voestalpine’s R&D in steel products, production processes and applications and (ii) a industrial size pilot plant for continuous coil annealing and hot dip coating for high-strength and high performance electrical steel. R&D is focusing on development of new materials, coatings, processing methods and new application techniques. The electromagnetic properties of the steel to be produced in the pilot plant is expected to enhance the efficiency of electrical motors. Most of the R&D activities of the project will be carried out in the promoter’s R&D centres in Linz, Leoben, Krems and Kapfenberg in Austria.
Objectives
Development of new steel grades, processes, coating methods and new joining techniques for different high-strength steel grades. The pilot plant’s objective is to produce improved electrical steel qualities.
Comments
The project may be financed under the Risk Sharing Finance Facility (RSFF), which is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 521 million
Environmental aspects
The project concerns: (a) investment in R&D that will be carried out in existing facilities and for which an EIA is not required under the Directive 2011/92/EU; (b) an industrial size pilot plant for annealing and coating which falls under Annex II (production and processing of metals) of the EIA Directive. The competent authority has not asked for an EIA, but has granted a change authorisation based on previous authorisations and information submitted. The investment will be located inside an existing industrial site.
Procurement
The promoter is a private company not operating in the Utilities sector, and is thus not covered by EU Directives on procurement.
Status
Signed - 30/11/2012
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).