15 November 2017
Promoter – Financial Intermediary
THE NAVIGATOR COMPANY, S.A.
The project concerns the modernisation and expansion of the existing pulp mill in Figueira da Foz to increase its efficiency and production.
The mill upgrading aims at the removal of efficiency and quality process bottlenecks that will allow a nominal pulp production capacity increase of 70 000 tpa. The upgrading process is expected to improve the emission abatement systems to fully align the plant with the specifications established in the Best Available Techniques (BAT) reference document for the pulp and paper industry. The project will result in increased overall resource efficiency and competitiveness of the company's production site, which is located in a less developed region of the EU. The wood feedstock shall be sourced from sustainably-managed forests that are certified by or aligned with international forest certification standards, either 100% or mixed PEFC/FSC certified wood or FSC controlled wood.
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 82 million
The mill is partially aligned with the Industrial Emissions Directive IED 2010/75 EU. The competent environmental authorities have screened out the project and no new Environmental Impact Assessment (EIA) has been required, since the modernisation process does not constitute a significant change of the installation in terms defined in the IED Directive.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation [Directive 2014/23/EU / 2014/24/EU / 2014/25/EU, where applicable], then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation [Directive 2014/23/EU / 2014/24/EU / 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC] as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the European Union, as and where required.
Signed - 6/07/2018