Release date: 3 October 2016
Promoter – Financial Intermediary
COILLTE TEORANTALocation
Description
Financing of Coillte Teoranta's forest plantation establishment and management programme for the period 2016-2020
Objectives
Due to the significant scale of plantation during the 1970s and 1980s, large areas of Ireland's forest estate are approaching harvesting age. Over 35,500 ha of forest are expected to be planted, the vast majority of which comprises replanting of existing forest stands in accordance with best technical and environmental practice, the remainder being new plantations on company-owned land. Replanting also includes areas which have suffered windfall damage or other degradation. 373 km of new forest roads are expected to be constructed and an additional 1,288 km of forest roads to be upgraded.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 98 million
Total cost (Approximate amount)
EUR 195 million
Environmental aspects
Because of the project's focus on forest plantation establishment and forest management, it will deliver multiple environmental benefits in the fields of climate change mitigation, biodiversity protection and generation of versatile renewable raw material, as well as offering significant amenity and educational value. Coillte has achieved and retained Forest Stewardship Council (FSC) certification for environmentally and socially responsible management of their forestlands.
Procurement
The promoter is a public entity and is therefore subject to public procurement procedures in compliance with Directive 2004/18/EC.
Status
Signed - 22/12/2016
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).