Release date: 25 April 2017
Promoter – Financial Intermediary
TIETO OYJLocation
Description
Research, development and innovation (RDI) and infrastructure investments used for the development of new industry-specific solutions and to broaden offering in various sectors
Objectives
The project will improve the company's competitiveness and result in new innovative products, solutions and applications for its customers.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 85 million
Total cost (Approximate amount)
EUR 180 million
Environmental aspects
The major part of the investments will concern RDI activities likely to be within existing facilities. A further part refers to the extension of an existing data centre. Therefore, it is unlikely that the project will fall under Annex I or II of Directive 2011/92/EU, as amended. Nevertheless, the environmental details including environmental objectives of the RDI programme, and in particular the data centre extension, 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. The Bank's services will verify details during the project's due diligence.
Status
Signed - 30/06/2017
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).