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VERACEL PULP MILL

Signature(s)

Amount
€ 65,263,501.39
Countries
Sector(s)
Brazil : € 65,263,501.39
Industry : € 65,263,501.39
Signature date(s)
19/12/2003 : € 65,263,501.39
Link to source
Data sheet
VERACEL PULP MILL
Other links
Summary sheet
Veracel Pulp Mill Project

Summary sheet

Release date
29 July 2003
Status
Reference
Signed | 18/12/2003
20020497
Project name
Promoter - financial intermediary
Veracel Pulp Mill Project
Stora Enso oyj (Finland) and Aracruz Cellulose S.A. (Brazil)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 70 million
USD 858 million
Location
Sector(s)
Description
Objectives

The project concerns the construction and operation of a large non-integrated, pulp production mill, based on eucalyptus plantations.

To contribute to the country's efficient uses of domestic natural resources and positively impact the national economy, creating employment and generating income, while also supporting an EU based company in its development in South America.

Environmental aspects
Procurement

The necessary licences are being obtained from Brazilian Authorities, with Environmental Impact Studies and Public Consultations to be carried out in compliance with Brazilian legislation. The mill design is expected to be in line with Best Available Technology, in line with IPPC EU Directive.

In line with EIB guidelines for private sector projects.

Comments

Manufacture of Pulp.

Link to source
Summary sheet
Veracel Pulp Mill Project
Other links
Data sheet
VERACEL PULP MILL

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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