Search EN menu en EIB GROUP CLIENT PORTAL
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 89,292,528.43
Countries
Sector(s)
Finland : € 2,900,099.21
Sweden : € 2,900,099.21
Austria : € 83,492,330.01
Industry : € 89,292,528.43
Signature date(s)
13/01/2005 : € 2,900,099.21
13/01/2005 : € 2,900,099.21
13/01/2005 : € 23,200,793.72
13/01/2005 : € 60,291,536.29
Link to source
Other links

Summary sheet

Release date
28 September 2004
Status
Reference
Signed | 13/01/2005
20030465
Project name
Promoter - financial intermediary
Borealis-Environment and R&D.
Borealis GmbH.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
About EUR 90 million.
About EUR 364 million.
Location
Sector(s)
Description
Objectives

The project concerns the replacement and expansion of the promoter’s existing PE (polyethylene) capacity in Austria and the promoter’s Research and Development expenditures incurred over the years 2004-2006 at three locations. The new PE plant, based on the promoter proprietary technology, will have a capacity of 350,000 tonnes per annum and will replace three obsolete PE plants with a total capacity of 200,000 tonnes. The promoter’s R&D activities are devoted to innovations in products applications, processes and catalysts.

Borealis aims to stay a technology leader by focusing on the development of high performance, cost effective, differentiated polymers and thereby limiting exposure to the commodity segment of the market through a constant flow of products and productivity improvements. The updated research and development strategy of Borealis is to support the above strategy and to further fundamental research. By substituting the obsolete plant with the new PE4 plant based on best available technology the project brings improvements in resources intensity and results in significantly reduced air emissions. The capacity replacement, with its technological improvements in the manufacturing process, will, in addition to supporting the promoter's strategy to maintain competitiveness of the plant, contribute to the sustainability of the promoter industrial operations through improved resource efficiency (more than 30% reduction in specific energy and water consumption) and lower atmospheric emissions (90% reduction of VOCs emissions).

Environmental aspects
Procurement

The PE4 project is located in the existing integrated petrochemical site of Schwechat which, in accordance with Council Directive 96/82/EC (Seveso II) undergoes regularly comprehensive safety and environmental protection audits. As a single product plant replacing existing facilities, the project falls under annex II of the directive EU/97/11. The competent authorities have not requested a full EIA, since it does not result in a substantial change in the emissions involved. R&D activities will not materially change current R&D practice and will be carried out within existing facilities, making use of existing laboratories and pilot plants. An EIA therefore is not required by EU Directive 97/11.

Procurement regulations do not apply to this private industry project. The promoter's procurement procedures, consisting in competitive enquiries among potential suppliers for goods and services, have been examined before and found to be entirely satisfactory.

Comments

Manufacturing.

Link to source
Other links

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

Related publications