GREEN CHEMICALS SITE DEVELOPMENT

Promoter – Financial Intermediary

Private company operating in bio-based chemical sector

Location

• Italy

Description

The project concerns the promoter's investment for the development of a "green chemical" site for the production of biodegradable monomers and biodegradable lubricant oils in a first stage as well as bio-polymers in a second stage. The site will be located within an existing petrochemical site in Sardinia, Italy.

Objectives

The investments will be implemented in Sardinia, a Convergence Region (Phasing-in Region 2007-2013). The project has the objective to substantially transform an existing petrochemical site into a production and R&D centre in the field of "green chemistry". The project implementation is therefore expected to bring about positive social and economic benefits in Sardinia, notably enabling the requalification and preservation of an existing industrial site, the preservation and increase of direct and indirect employment in the region during the project implementation and operation, the contribution to local economic growth and the development of new enterprises supplying the site as well as of the local agricultural sector.

Comments

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 70 million

Total cost (Approximate amount)

EUR 459 million

Environmental aspects

The project concerns investments in integrated chemical installations for the production of basic organic chemicals. An Environmental Impact Assessment (EIA) is therefore required under the Directive 2011/92/EU. Any possible environmental issue will be verified during the project appraisal.

Procurement

The promoter is a private company not operating in the utilities sector and not having a status of a contracting authority. Thus it is not covered by EU Directives on procurement.

Status

Signed - 3/06/2014