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    Reference: 20160170
    Release date: 14 July 2017

    Promoter – Financial Intermediary

    DASOS CAPITAL OY

    Location

    Description

    Co-investment with Dasos Timberland Fund II to improve Irish forest assets (reforestation and new plantations) and improve forest management.

    Objectives

    The proposed operation aggregates a portfolio of up to 12 000 ha of forestry assets in the Republic of Ireland. By consolidating fragmented forestry assets, the co-investment will allow the creation of one larger portfolio under the same management, thus benefiting from improved forest operations, economies of scale and synergies - all important value creation drivers in the Irish forestry sector. The co-investment will include investments in i) improving forest management, ii) reforestation (i.e. after harvesting operations) and iii) new plantations.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 28 million

    Total cost (Approximate amount)

    EUR 200 million

    Environmental aspects

    Well-designed forestry investments deliver many environmental benefits including climate change mitigation and adaptation, improved management of soil and water resources and protection of biodiversity. In the EU, afforestation entailing conversion to another land use type falls under Annex II of the EIA Directive 85/337/EEC amended by Directives 97/11/EC and 2003/35/EC. The decision of the Competent Authority whether to require an Environmental Impact Assessment (EIA) on the basis of Annex III of the Directive will be assessed, as well as possible impacts on protected flora and fauna (Habitats' 92/43/EEC and Birds' 79/409/EEC Directives).

    Procurement

    The promoter, a private company, is not subject to EU Directives on procurement when investing in the EU.

    Status

    Signed - 12/12/2016

    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

    Ireland Agriculture, fisheries, forestry