ALUMINIUM PLANT CAPACITY EXPANSION

Promoter – Financial Intermediary

ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY SA

Location

• Greece

Description

The project purpose is to strengthen the company's competitiveness through raising its productivity, efficiency, product quality and manufacturing capacity by investing (i) in a new state of the art multi-stand tandem hot rolling mill, (ii) in the modernisation of its existing rolling equipment and (iii) in research, development and innovation (RDI) focusing on a new process and product development.

Objectives

The project concerns the promoter's investments in the modernisation of existing equipment, its plant infrastructure and the acquisition and installation of new equipment in order to increase its manufacturing capacity. Additionally the promoter's RDI efforts are part of the project. The project takes place in the promoter's plant in in Oinofyta, Boeotia (Greece).

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 70 million

Total cost (Approximate amount)

EUR 200 million

Environmental aspects

The installation of new aluminium rolling equipment will be realised in a new building on new land next to the existing plant facilities. Such an installation falls under Annex II of the Environmental Impact Assessment (EIA) Directive. The local competent authorities will have to establish if a new EIA is required. The RDI and modernisation component of the project will be carried out in existing facilities already authorized for this type of activity and is therefore not expected to require an EIA under Directive 2011/92/EU. The Bank's services will further asses environmental details during project appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable, as well as Directives 89/665/EEC and 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 20/12/2017