VALLOUREC RDI INVESTMENTS AND DIGITALIZATION

Financing Vallourec's European RDI in the context of their competitiveness plan covering the years 2017 - 2020. The project comprises product and process RDI, including digitalization activities, as well as related RDI capital expenditures.

The project covers the promoter's RDI operational and capital expenditures related to steel tubes and pipes manufacturing. The project's RDI activities are carried out in the fields of (i) development of new tubular solutions and (ii) manufacturing and product digitalization.

The project concerns RDI expenditures to be carried out in existing industrial facilities already authorized for such purpose and are therefore not expected requiring an Environmental Impact Assessment (EIA) under the Directive 2014/52/EU.

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 (i.e. Directive 2014/24/EU), then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (2014/24/EU, where applicable, as well as Directive 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU (OJEU), as and where required.