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As a part of its Southern European expansion plans, TUI AG is seeking to modernise two of its hotels in Fuerteventura, in the Spanish Canary islands, and is promoting a new hotel in the province of Algarve in Portugal.
Investment in a in a high-grade resort hotel complex will contribute to the development of upscale tourism in the Canary Islands as well as in the Algarve.
The project falls under the scope of the Directive 97/11/EEC on Environmental Impact Assessment, and notably of its Annex II. The Promoter has prepared Environmental Impact Studies under request of the local authorities as a condition for the release of the building permits. The outcome and the mitigating measures suggested in the study will be analysed, together with the Nature Protection aspects (“Habitat” and “Birds” Directives) by the Bank’s services during the appraisal.
This is a private sector project, where EU Procurement Directives are not applicable. The promoter follows current industry practices based mainly on competitive consultations among potential suppliers for goods and services.
Tourism