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    Reference: 20170006
    Release date: 13 June 2017

    Promoter – Financial Intermediary

    WÄRTSILÄ OYJ ABP

    Location

    Description

    The project covers the promoter's investments in research, development and innovation (RDI) in 2017-2019, related to four-stroke (medium-speed) engines for marine and power plant applications.

    Objectives

    The main objectives include improvement of efficiency, environmental performance, reliability, lifecycle cost and automation.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 125 million

    Total cost (Approximate amount)

    EUR 289 million

    Environmental aspects

    The project consists of research and development (R&D) activities that are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by 2014/52/EU) and that will be carried out in existing facilities without changing their already authorised scope. The project would therefore not require an EIA. However, the Bank's services will review all the project-related environmental details during the project appraisal.

    Procurement

    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 - 4/12/2017

    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

    Finland Italy Spain Industry