NEW FURNITURE PRODUCTION PLANT

Promoter – Financial Intermediary

SITS SP ZOO

Location

• Poland

Description

The proposed EIB loan will support the promoter's capital investments for (i) the construction of a new production facility for upholstered furniture, (ii) the acquisition, installation and ramp-up of the related equipment for furniture production, as well as (iii) a new fully equipped storage facility over the period 2017-19. Over time the investment is expected to create up to 500 new jobs.

Objectives

The company aims to support its planned growth by increasing its manufacturing and warehousing capacity as the current installed capacity and space available does not allow for the forecast volumes.

Sector(s)

• Industry

Proposed EIB finance (Approximate amount)

PLN 70 million (EUR 17 million)

Total cost (Approximate amount)

PLN 141 million (EUR 33 million)

Environmental aspects

The construction of the new industrial estates is expected to require an environmental impact assessment (EIA) under Directive 2011/92/EU as amended. The environmental details will be assessed during the appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, thus not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 30/06/2017