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    Reference: 20150942
    Release date: 11 May 2016

    Promoter – Financial Intermediary

    COSENTINO SA

    Location

    Description

    The project consists in financing Cosentino's investments for the period 2016-2019 included in its strategic plan. The investments include research, development and innovation (RDI) activities in the EU of existing and new products as well as installation of advanced manufacturing equipment in Almeria (Andalusia, Spain).

    Objectives

    Part of the RDI activities focus on further improving and expanding the promoter's portfolio of recycled and engineered stones to addressing a growing market demand for more sustainable products from more ecologically aware public and private customers.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 70 million

    Total cost (Approximate amount)

    EUR 232 million

    Environmental aspects

    Research and development (R&D) activities are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended, and the project is expected to be carried out in existing facilities. The advanced manufacturing capital expenditure (capex) will be installed within existing facilities where similar equipment is already installed and operating. However, the Bank's services will review during the project appraisal all the project-related environmental details.

    Procurement

    Final beneficiaries will be requested to comply with applicable EU legislation, as appropriate. The promoter is a private company not operating in the Utilities sector and not having the status of a contracting authority. Thus it is not covered by EU directives on procurement.

    Status

    Signed - 16/12/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Industry