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Signature(s)

Amount
€ 479,719,843.61
Countries
Sector(s)
Poland : € 479,719,843.61
Industry : € 479,719,843.61
Signature date(s)
1/08/2014 : € 479,719,843.61
Link to source

Summary sheet

Release date
15 January 2014
Status
Reference
Signed | 01/08/2014
20130326
Project name
Promoter - financial intermediary
MODERNISATION PROGRAMME
Private Promoter
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Not disclosed.
EUR 1000 million
Location
Sector(s)
Description
Objectives

Investments for the modernisation and environmental optimisation of smelters and extension of tailings pond enabling mine production of the company beyond 2016.

The Promoter is Europe’s largest copper producer, the world’s largest silver producer and produces on top a variety of metallic and chemical by-products. This position is based on a world-class underground ore deposit. The company has embarked on a longer term programme to modernise its production facilities, to render them more efficient and bring them in line with latest environmental legislative requirements. These measures will contribute to keep the company competitive for the foreseeable future and therefore support sustainable growth in this less developed region of Europe. The project is therefore eligible under Article 309 point (a), i.e. projects for developing less-developed regions and also touches upon points (b) modernisation (resource efficiency) and (c) common European interest (Raw Materials Initiative).
These technological improvements will not only lead to improved production capacities, but also to a lower energy use with less emissions of dust, CO2, SO2 and NOx in line with the European Union’s IED (Industrial Emissions Directive).
Further, the conversion of the Legnica smelter to a 100% dedicated waste-derived/ secondary raw materials smelter contributes to the objectives of the Waste Electrical and Electronic Equipment Directive - WEEE) and additionally reducing further the specific energy consumption of the metal produced.

Environmental aspects
Procurement

The project aims to reduce the environmental impacts of some major installations of the promoter. Three of the four project components (Glogów I smelter rebuild, conversion of the Legnica smelter and the extension of the tailings pond) fall under annex I of the Directive 2011/92/EU, thus requiring a formal EIA. Those EIAs have been established and are available in draft form. The fourth component (Glogów II smelter refurbishment) has elements falling under annex I, others falling under annex II. A respective EIA comprising all elements is underway, but will only be available in early 2014.

The promoter is a private company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not covered by the EU directives on procurement.

Link to source
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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).

Documents

Environmental and Social Data Sheet (ESDS) - KGHM MODERNISATION PROGRAMME
Publication Date
9 Apr 2014
Document language
Main Topic
Lending
Document Number
50425527
Document Focus
Environmental Information
Project Number
20130326
Sector(s)
Regions
Countries
Publicly available
Download now
Non-Technical Summary (NTS) - KGHM MODERNISATION PROGRAMME NTS Legnica
Publication Date
11 Mar 2014
Document language
Main Topic
Lending
Document Number
52014445
Document Focus
Environmental Information
Project Number
20130326
Sector(s)
Regions
Countries
Publicly available
Download now
Non-Technical Summary (NTS) - KGHM MODERNISATION PROGRAMME NTS Glogow I
Publication Date
11 Mar 2014
Document language
Main Topic
Lending
Document Number
52018177
Document Focus
Environmental Information
Project Number
20130326
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

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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.

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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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