Release date: 9 June 2009
Promoter – Financial Intermediary
Stora Enso Oyj
Location
Description
The project comprises two parts. Part I concerns investments in research, development and innovation related to pulp, paper packaging and forest products. Part II includes design, construction and operation of a combined heat and power generation facility in Ostroleka, Poland.
Objectives
The RDI part of the project will support the research activities and technical development within a European paper and forest products manufacturer. The power plant project is located in a convergence region and the project will employ an efficient, combined heat and power technology and help to increase the energy self-suffiency of the promoter.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 230 million.
Total cost (Approximate amount)
The RDI related project cost is estimated at up to EUR 348 million. in total. The project cost related to the power plant to be is estimated at EUR 137 million. This leads to total project costs of EUR 485 million.
Environmental aspects
For the RDI part, an EIA will not be necessary according to EIA Directive as long as existing RDI facilities are used. The power plant is part of a bigger investment programme which falls under Annex I of Directive 85/337/EEC and is subject to an EIA. This part will require appropriate environmental permits under IPPC Directive 2008/1/EC. Full environmental details will be assessed during appraisal, including possible impacts on protected flora and fauna.
Procurement
The promoter is a private company, not operating in the utilities sector, and is not covered by EU directives on procurement. During the appraisal, the Bank will verify the promoter’s procurement procedures to ensure that the project benefits from market-based competition between potential subcontractors.
Status
Signed - 9/02/2010
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).