Release date: 16 November 2009
Promoter – Financial Intermediary
ArcelorMittal Brazil S.A.Location
Description
The project consist of an upgrade the three main plants of the ArcelorMittal Group in Brazil: Tubarão (Porto Vitoria, Espirito Santo), Vega do Sul (São Francisco do Sul, Santa Catarina) and Cariacica (Espirito Santo).
Objectives
The project is an investment programme with three objectives: (i) improvement of product mix and production balance, (ii) energy efficiency and (iii) improvement of environmental impacts.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 130 million
Total cost (Approximate amount)
EUR 347.30 million
Environmental aspects
If they had taken place in the EU, two of the sub-projects would be included under Annex II of Directive 97/11 and EIAs would be required. The process, which includes public consultations and the conditions will be reviewed during the appraisal; the process is in line with EU and EIB requirements.
Projects are small additional developments on existing sites which are well operated by a competent and experienced promoter. In particular, one of the projects aims specifically at reducing atmospheric emissions of the plant. All projects are based on Best Available Technology.
Procurement
The company is expected to procure the equipment and services for the project from amongst the few specialised engineering companies, using international negotiations. This procedure, which is usual in this industry, would be in the best interests of the project and in line with the Bank’s procurement policy for private industry projects.
Status
Signed - 26/03/2010
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).