The European Investment Bank (EIB) has granted a EUR 180m loan to the SNF Group, a world leader in speciality chemicals and water chemistry.

The EIB financing provided within the framework of the European Fund for Strategic Investments (EFSI), which is at the heart of the Juncker Plan, will support the group with its research and development programme over the next four years. It will also finance the construction of a new SNF manufacturing plant in Gravelines, in the port to the west of Dunkirk (Hauts de France region). In the short term, between 160 and 180 permanent jobs will be created on the new site.

European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici commented, "I am very pleased that the European Investment Bank is signing this agreement with the backing of the Juncker Plan. The EUR 80m loan will not only enable the chemicals specialist to create new products, but also to construct an additional site in the Dunkirk region. This EU assistance shows once again that the EU is taking action to improve employment in the Hauts de France region.”

EIB Vice-President Ambroise Fayolle stated, “This loan is highly significant for the EIB – the EU bank – as it underpins our commitment to support innovation throughout Europe. We also attach great importance to the reindustrialisation of cohesion regions, particularly in Hauts de France where the new plant will be built.”

SNF’s CEO Pascal Rémy said, “We welcome this support from the EIB and we have been very impressed by the professionalism and pragmatic approach of its staff.”