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Signature(s)

Amount
€ 230,000,000
Countries
Sector(s)
Poland : € 65,000,000
Finland : € 80,000,000
Sweden : € 85,000,000
Energy : € 64,998,000
Industry : € 165,002,000
Signature date(s)
9/02/2010 : € 18,369,000
6/05/2010 : € 22,608,000
6/05/2010 : € 24,021,000
9/02/2010 : € 46,631,000
6/05/2010 : € 57,392,000
6/05/2010 : € 60,979,000
Link to source

Summary sheet

Release date
9 June 2009
Status
Reference
Signed | 09/02/2010
20080679
Project name
Promoter - financial intermediary
SE Power Plant and Forest Industry R&D

Stora Enso Oyj

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 230 million.
The RDI related project cost is estimated at up to EUR 348 million. in total. The project cost related to the power plant to be is estimated at EUR 137 million. This leads to total project costs of EUR 485 million.
Description
Objectives

The project comprises two parts. Part I concerns investments in research, development and innovation related to pulp, paper packaging and forest products. Part II includes design, construction and operation of a combined heat and power generation facility in Ostroleka, Poland.

The RDI part of the project will support the research activities and technical development within a European paper and forest products manufacturer. The power plant project is located in a convergence region and the project will employ an efficient, combined heat and power technology and help to increase the energy self-suffiency of the promoter.

Environmental aspects
Procurement

For the RDI part, an EIA will not be necessary according to EIA Directive as long as existing RDI facilities are used. The power plant is part of a bigger investment programme which falls under Annex I of Directive 85/337/EEC and is subject to an EIA. This part will require appropriate environmental permits under IPPC Directive 2008/1/EC. Full environmental details will be assessed during appraisal, including possible impacts on protected flora and fauna.

The promoter is a private company, not operating in the utilities sector, and is not covered by EU directives on procurement. During the appraisal, the Bank will verify the promoter’s procurement procedures to ensure that the project benefits from market-based competition between potential subcontractors.

Link to source

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.

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