Summary sheet
The project will finance the extension infrastructure of the Institute of Science and Technology Austria (ISTA) in Klosterneuburg. This will create seven new interconnected buildings that will house laboratories, researcher offices, learning centres and communal areas, a new maintenance and storage facility, and a new kindergarten.
The aim is to provide a world-class facility with a state-of-the-art research infrastructure, enabling ISTA to continue its successful growth path of the past 15 years. The presence of a such institution could also attract related industries and investments to the region, creating employment in high-value-added sectors.
The Project addresses a clearly defined market failure as it finances infrastructure for early-stage R&D for which the markets fail to provide adequate funds because of the uncertainty inherent in these activities and the knowledge spillovers that prevent from fully capturing the economic returns.
The Project will extend the existing campus of the Institute of Science and Technology Austria with state of the art research facilities, allowing ISTA to open up and develop new fields of research and to extend its high quality doctoral training and post-doc programmes.
Consistent with the previous expansion phase of the ISTA campus, the Bank plays an important role in facilitating the Borrower's access to a broader range of funding sources, thereby strengthening financial resilience and promoting diversification. EIB's funding optimizes the structure of available public funding and is key to secure the financing of the Project at matching terms. The loan structure is particularly favourable, offering an extended repayment period alongside customized terms, such as flexible drawdowns and extended disbursement periods.
Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU) does not specifically cover educational activities, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, educational facilities may fall under Annex II of the Directive with respect to Urban Development. The EIB will verify during appraisal whether an EIA is required by the competent authority. The public buildings will be required to meet at least the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency.
The promoter shall ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, where applicable, as well as Directive 89/665/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.