Release date: 17 February 2004
Promoter – Financial Intermediary
Arcelor SA.Location
Description
The project consists in a new stainless steel meltshop which includes an electric furnace, Argon Oxygen Decarbonisation converter, a continuous slab casting installation, and associated investments in utilities and infrastructures.
Objectives
Restructuring of the group’s stainless steel production facilities in order to reduce production costs and optimise internal logistics.
Comments
Stainless steel production.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 125m.
Total cost (Approximate amount)
EUR 261m.
Environmental aspects
The project falls under Annex I of EU Directive 97/11: an EIA has been commissioned and should be completed during the first quarter of 2004. Public enquiry and full presentation to competent authorities will be made mid 2004 and final authorisations including possible mitigating measures are expected for end 2004.
Procurement
Equipment is supplied through international engineering companies after intenational negociations. This is a usual procurement procedure in the private industry and in line with the Bank’s guidelines for privat sector industrial projects.
Status
Signed - 6/07/2005
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).