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Signature(s)

Amount
€ 110,000,000
Countries
Sector(s)
Italy : € 110,000,000
Industry : € 110,000,000
Signature date(s)
20/05/2021 : € 110,000,000

Summary sheet

Release date
3 June 2021
Status
Reference
Signed | 20/05/2021
20200581
Project name
Promoter - financial intermediary
ARVEDI RDI & ADVANCED MANUFACTURING TECHNOLOGY
FINARVEDI SPA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 110 million
EUR 203 million
Location
Sector(s)
Description
Objectives

The project comprises the Promoter's research, development and innovation (RDI) activities and a significant part of the Promoter's strategic investment programme over the next years in its two main manufacturing sites. It encompasses (i) RDI activities, (ii) new advanced manufacturing technology (AMT) downstream steel processing lines, (iii) various circular economy measures and (iv) renewable electricity generation in several of its manufacturing facilities. The project covers the years 2020 to 2023.

The project will lead to an improved environmental footprint of the Promoter's steel manufacturing process and it will introduce new steel products with a low environmental footprint leading to material consumption reductions in downstream applications. This will be achieved through the implementation of new advanced manufacturing technology (AMT) equipment in downstream steel processing and various circular economy measures. Furthermore, the project covers RDI activities with a focus on the increased usage of scrap in the steel manufacturing process and investments in renewable electricity generation in several of its manufacturing facilities.

Environmental aspects
Procurement

One component of the project falls under Annex II of the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU and hence requires either an environmental impact assessment (EIA) or a screening decision from the competent authorities. All components are expected to be complaint with best available techniques (BAT). The RDI activities part of the project will be carried out in existing research and development (R&D) and steel manufacturing facilities of the Promoter. RDI activities are not mentioned in the EIA Directive and therefore, these activities are not expected to require an EIA. It will be assessed during due diligence if any other component of the project requires an EIA or a screening decision in accordance with the directive. All environmental aspects will be appraised in detail during due diligence.

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

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) - ARVEDI RDI & ADVANCED MANUFACTURING TECHNOLOGY
Publication Date
8 Jul 2021
Document language
Main Topic
Lending
Document Number
133522158
Document Focus
Environmental Information
Project Number
20200581
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - ARVEDI RDI & ADVANCED MANUFACTURING TECHNOLOGY
Publication Date
3 Jun 2021
Document Language
English
Main Topic
lending
Document Number
142417598
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20200581
Last update
4 Jun 2021
Sector(s)
Industry
Countries
Italy
Publicly available
Download now

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 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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