Release date: 14 February 2005
Promoter – Financial Intermediary
Tessenderlo Chemie SA / NV
Belgium
Location
Description
The project concerns the replacement of part of the promoter's mercury-electrolysis based production of chlorine by state-of-the-art membrane technologyrepresenting a major step forward towards less environmentally intrusive production methods.
The project is located in an objective 2 area in the western part of the Province of Limburg, a province currently adversely affected by the partial closure of a manufacturing plant of one of the its largest employers. In general, the Province of Limburg has traditionally been confronted with higher unemployment rates and a lower income per capita compared to the rest of the Flemish region.
Objectives
The project significantly reduces the environmental impact of the site and will sustain the direct employment of some 1450 people in an objective 2 area adversely affected by recent plant closures.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 90 million
Total cost (Approximate amount)
EUR 190 million
Environmental aspects
The project, located in an objective 2 area, is environmentally driven and is, therefore, fully consistent with two of the EIB priorities, regional development and environmental improvement.
Procurement
The promoter has solicited offers from all the known technology suppliers and chosen the best. These procedures, normal for the private sector chemical industry, are in the best interests of the project and entirely satisfactory.
Status
Signed - 1/06/2005
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).