ACERINOX MANUFACTURING MODERNISATION

Promoter – Financial Intermediary

ACERINOX SA

Location

• Spain

Description

The project comprises the following distinct components: • A new state of the art cold rolling mill • A new state of the art annealing and pickling line • A new slitting line

Objectives

The project comprises the promoter's capital expenditures related to replacement of end-of-life downstream stainless steel production equipment by the implementation of a new rolling mill, a new annealing and pickling line and a new slitting line in its plant in Campo de Gibraltar (Andalusia, Spain).

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 70 million

Total cost (Approximate amount)

EUR 140 million

Environmental aspects

The replacement of old equipment by new and modern production lines will be carried out within the promoter's existing facilities without changing their already authorised scope. Such production lines might fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU. The project has been screened out by the local competent authorities and hence does not require a new EIA. The Bank's services will further asses environmental details during 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 the 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 contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 11/12/2017