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    Signature(s)

    Amount
    € 50,000,000
    Countries
    Sector(s)
    Spain : € 50,000,000
    Industry : € 50,000,000
    Signature date(s)
    19/07/2019 : € 50,000,000

    Summary sheet

    Release date
    5 August 2019
    Status
    Reference
    Signed | 19/07/2019
    20180803
    Project name
    Promoter - financial intermediary
    SIDENOR SPECIALTY STEEL CAPEX & RDI
    SIDENOR ACEROS ESPECIALES SLU
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 50 million
    EUR 128 million
    Location
    Sector(s)
    Description
    Objectives

    Sidenor is a steel company, specialised in the production of special steel long products, forged and cast pieces and supplier of cold finished products in the European market. The project will finance 2019-2021 investments to be made in the production centre based in the Basque Country (Spain) and related to research, development and innovation, new equipment and facilities, as well as digitalisation.

    All investments are strategic and are expected to strengthen the promoter's market position by enabling the manufacturing of higher quality special steels products as well as the development of new products to enter new industry segments. In addition, the investments in new equipment and facilities will raise manufacturing efficiency and support the company's competitiveness in the medium-long term.

    Environmental aspects
    Procurement

    The different components of the project will all be carried out in existing facilities already authorized for the same purpose and would therefore not require an Environmental Impact Assessment (EIA) under the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU. However, some of the activities of the promoter may fall under Annex II of said Directive. The EIB's services will establish during project appraisal whether this is the case, as well as any other environmental details.

    The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2014/24/EU), then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (2014/24/EU, where applicable, as well as Directive 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - SIDENOR SPECIALTY STEEL CAPEX & RDI
    Publication Date
    12 Mar 2020
    Document language
    Main Topic
    Lending
    Document Number
    91604964
    Document Focus
    Environmental Information
    Project Number
    20180803
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    scoreboard - MIDCAP PROGRAMME LOAN SPAIN AND PORTUGAL 2
    Publication Date
    16 Apr 2018
    Document Language
    English
    Main Topic
    lending
    Document Number
    82865488
    Document Focus
    EFSI legal requirements
    Document Type
    Scoreboard
    Project Number
    20170572
    Last update
    16 Apr 2018
    Sector(s)
    Credit lines
    Countries
    Portugal
    Publicly available
    Download now

    News & Stories

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