The Brazilian company OECI S.A. (part of Novonor Group) has received a 12-month conditional non-exclusion from EIB-financed projects due to its misconduct in failing to disclose certain information in connection with a project financed by the EIB.
The conditional non-exclusion was reached through a negotiated settlement agreement.
OECI S.A. will be subject to a conditional non-exclusion for a period of 12 months starting from 20 August 2025. This means that OECI S.A. remains eligible to participate in EIB-financed operations and activities, to participate in EIB-financed tenders and to be awarded EIB-financed contracts, provided that OECI S.A. complies with the terms of the agreement.
OECI S.A. will maintain and continue to enhance its corporate governance and compliance system to ensure the misconduct at issue is not repeated, and will closely cooperate with the EIB and assist it in its efforts to investigate prohibited conduct in EIB-financed projects.
During the investigation process, OECI S.A. cooperated in full with the EIB and helped clarify matters and provided information and material related to the case in full transparency. Both parties intend to continue to cooperate with each other in the fight against prohibited conduct and to promote integrity, transparency, and good business practices.