4 June 2010
Promoter – Financial Intermediary
Riva Fire S.p.A.
The project concerns an investment programme in a large steel plant. The purpose is to maintain the competitiveness of the site through a large scale investment programme to upgrade the production facilities, improving the productivity of the plant while facilitating increased energy efficiency and reducing its environmental impact.
The project is key to the cost competitiveness of the plant and to its long term sustainability (technical, environmental and financial) and will consolidate the direct and the significant indirect employment of the plant. Furthermore, the energy efficiency and the environmental investments will imply a reduction of the GHG (Green House Gases) emissions of the plant, which will be certified by the Italian Institute for Quality Insurance.
Proposed EIB finance (Approximate amount)
Up to EUR 370 million.
Total cost (Approximate amount)
Approximately EUR 750 million.
The steel facility operates under an Integrated Environmental Authorisation in order to authorise new investments and operation of its various plants. A Programme Agreement has been defined with the various local entities and ministries and is being implemented. It includes an adjustment plan for the plant in order to reach the BAT level, as defined in EU IPPC Directive 96/61 amended with 2008/1; larger investment sub projects are subject to EIA procedures (EU Directive 85/337 amended 97/11). The plant is the object of a continuous monitoring in liaison with Environmental Authorities for its atmospheric emissions, liquid effluents and solid waste disposal. Environmental management system is in conformity with ISO 14001 requirements. All those elements will be reviewed during the appraisal.
The company is expected to obtain equipment and services for the project from amongst the few specialised engineering companies, using international negotiations. This procedure, which is usual in the industry, would be in the best interest of the project and in line with the Bank’s procurement policy for private industry projects.
Signed - 16/12/2010