Release date: 30 January 2002
Promoter – Financial Intermediary
Sonae SGPS SA.Location
Description
The operation concerns the construction of a new particleboard and oriented strand board (OSB) mill.
Objectives
The project, which is located in an Objective 1 region, will have positive employment effects and generate significant cost savings for the promoter, who is a world leader in the production of wood-based panels. Furthermore, the project will entail environmental benefits, as it partially uses recycled wood and, thereby, reduces pressure on forest resources.
Comments
Wood-based panel industry
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 119 million
Total cost (Approximate amount)
EUR 239 million
Environmental aspects
This industry is not subject to Council Directive 97/11 on EIA. However, the German legislation (BIMSCHG) requires a full environmental assessment procedure for this industry (incl. public hearing), which has been performed by the promoter. The plant is adapted to use recycled wood and, thereby, contributes to the reduction of pressure on natural resources.
Procurement
The promoter is a private company and utilises procurement procedures, which are usual in the industry and fully satisfactory to the Bank.
Status
Signed - 10/12/2002
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).