Release date: 30 November 2016
Promoter – Financial Intermediary
COMPANIA ESPANOLA DE PETROLEOS SAULocation
Description
The project concerns the optimisation of the promoter's aromatics production towards higher-value products. Investments will take place in two of the promoter's refineries in Andalucía, Gibraltar-San Roque and La Rábida.
Objectives
The project will allow the promoter to produce higher-value-added aromatic products, thus improving its margins. The expected improvement in profitability is vital to sustain the promoter's competitiveness and preserve employment in Andalucía, a region with the second highest unemployment rate in the EU.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 70 million
Total cost (Approximate amount)
EUR 149 million
Environmental aspects
This type of project falls under Annex II of the Environmental Impact Assessment (EIA) Directive; the screening and respective EIA decisions and reports will be assessed during appraisal. The environmental dimension of the project will be scrutinised during appraisal. This will include a check of conformity with applicable EU directives (Industrial Emissions Directive (IED) (2010/75/EU), Ambient Air Directives and Seveso III Directive (2012/18/EC)) and of the environmental and occupational health and safety (OHS) plans.
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.
Status
Signed - 28/04/2017
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).