Release date: 23 August 2011
Promoter – Financial Intermediary
Sandvik AB
Location
Description
The project concerns parts of the promoter’s broader investments in research, development and innovation (RDI). The selected activities relate on the one hand to the research and development of new materials, technologies and products. Secondly, the project comprises investments in the innovation of the existing products in the areas of tools for industrial production, and mining and construction equipment. The project aims at the overall improvement of the productivity of the operations of the promoter’s customers through higher product quality, speed, safety, flexibility as well as cost competitiveness. In parallel there is a strong consideration of environmental sustainability issues in terms of energy consumption, longer product lives, recyclability of materials and overall utilisation of resources.
Objectives
The R&D investments in new materials, product and process technologies are expected to lead to an improvement of productivity, environmental sustainability (e.g. through the reduction of energy used and the increase of raw materials recycled) and working conditions (increased ergonomics and safety of operators) at the manufacturing processes or in the final products where the results of this R&D project will find application.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 280 million
Total cost (Approximate amount)
EUR 566 million
Environmental aspects
The project concerns investments in research and development carried out in existing facilities already authorised. An EIA therefore is not required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. The related facilities are already covered by appropriate environmental authorisations. Overall, the project is considered acceptable with no negative residual impacts, and some products of the programme will contribute to more energy efficient and safer solutions
Procurement
The promoter is a private sector company operating in the manufacturing sector not covered by EU Directives on procurement. The company’s policies to incorporate environmental and social factors in the supply chain management and those to prevent corruption and anti-competitive practices are considered acceptable.
Status
Signed - 13/12/2011