Release date: 20 August 2010
Promoter – Financial Intermediary
Wärstilä Corporation
Location
Description
The project concerns the promoter’s RDI activities in two-stroke (low speed) and four-stroke (medium speed) engines for marine and power plant applications between 2010 and 2012.
Objectives
The main objectives of the project include improved efficiency, environmental performance, reliability, lifecycle costs and automation. The project is also expected to bring about positive environmental results and improved energy efficiency.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 150 million.
Total cost (Approximate amount)
Approximately EUR 430 million.
Environmental aspects
The project concerns investments in R&D that are expected to be carried out in existing facilities already authorised, in which case an Environmental Impact Assessment (EIA) would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank’s services will verify details related to the location of the R&D facilities, and whether the project includes the implementation of any testing facilities that could fall under Annex II of the EIA directive.
Procurement
The promoter is a private-sector company operating in the manufacturing sector not covered by EU Directives on procurement. Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.
Status
Signed - 21/10/2011
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).