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    Reference: 20170819
    Release date: 15 December 2017

    Promoter – Financial Intermediary

    VALMET OYJ

    Location

    Description

    The project concerns the promoter's investments in Research, Development and Innovation (RDI) in the field of Automation systems and solutions primarily for applications to pulp mills, tissue, board and paper production lines, as well as power plants for bio-energy production. The RDI activities will be carried out mainly in the promoter's RDI centres in Finland during the period 2018-2021.

    Objectives

    The project aims to enhance competitiveness and improve the efficiency of the promoter's products and processes.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 45 million

    Total cost (Approximate amount)

    EUR 98 million

    Environmental aspects

    The project activities do not fall under any of the annexes of the Directive 2014/52/EU amending the EIA Directive 2011/92/EU; moreover they are expected to be carried out in existing facilities already authorised that will not change their scope due to the project. As such it is unlikely that the local environmental competent authorities have required an Environmental Impact Assessment (EIA) for the project. However, the environmental details will be assessed during the appraisal.

    Procurement

    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 (i.e. Directive 2014/25/EC), 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 2014/25/EC and Directive 92/13/EEC) as interpreted by the Court of Justice of the European Union, with publication of tender notices in the Official Journal of the European Union, as and where required.

    Status

    Signed - 27/03/2018

    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 Industry