NOVAMONT RENEWABLE CHEMISTRY

Promoter – Financial Intermediary

NOVAMONT SPA

Location

• Italy

Description

Financing of investments for the development of an integrated supply chain in the field of biochemicals and bioplastics.

Objectives

The project concerns the deployment of innovative process technologies for the production of bioplastics and bio-chemicals that are expected to be used for a number of industrial (e.g. plasticisers, biodegradable lubricant oils for industry and vehicles) and consumer goods (e.g. renewable and biodegradable base for cosmetics, carrier bags, films and packaging) applications.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 30 million

Total cost (Approximate amount)

EUR 105 million

Environmental aspects

The project includes investment in research and development (R&D) that are expected to be carried out in existing facilities already authorised for the same purpose and that would therefore not require an environmental impact assessment (EIA) under Directive 2011/92/EU (amended 2014/52/EU). However, the project will also include other types of investments such as capacity expansion through installation of new production lines in existing chemical plants and associated upstream and downstream activities which may fall under the EIA Directive and Industrial Emissions Directive (2010/75 EC). This as well as any other environmental aspects will be verified during the project appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that the project will follow the relevant applicable EU procurement legislation.

Status

Signed - 18/12/2015