Reference: 20180803
Release date: 5 August 2019

Promoter – Financial Intermediary

SIDENOR ACEROS ESPECIALES SLU

Location

Description

Sidenor is a steel company, specialised in the production of special steel long products, forged and cast pieces and supplier of cold finished products in the European market. The project will finance 2019-2021 investments to be made in the production centre based in the Basque Country (Spain) and related to research, development and innovation, new equipment and facilities, as well as digitalisation.

Objectives

All investments are strategic and are expected to strengthen the promoter's market position by enabling the manufacturing of higher quality special steels products as well as the development of new products to enter new industry segments. In addition, the investments in new equipment and facilities will raise manufacturing efficiency and support the company's competitiveness in the medium-long term.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 128 million

Environmental aspects

The different components of the project will all be carried out in existing facilities already authorized for the same purpose and would therefore not require an Environmental Impact Assessment (EIA) under the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU. However, some of the activities of the promoter may fall under Annex II of said Directive. The EIB's services will establish during project appraisal whether this is the case, as well as any other environmental details.

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 2014/24/EU), 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 (2014/24/EU, where applicable, as well as Directive 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required

Status

Signed - 19/07/2019

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

Spain Industry