Reference: 20190176
Release date: 30 September 2019

Promoter – Financial Intermediary

GRIMALDI GROUP SPA

Location

Description

The project involves the retrofitting of sulphur oxide (SOx) exhaust gas cleaning systems (scrubbers) to 10 passenger/vehicle (RoPax) ferries, 17 container/vehicle (ConRo) vessels, 11 roll on - roll off cargo (RoRo Cargo) vessels and 6 vehicle carriers (total 44 vessels) of the Promoter's fleet.

Objectives

The aim is to ensure that the promoter's vessels comply with International Maritime Organisation (IMO), International Labour Organisation (ILO) and EU regulations governing the cleaning of exhaust gas emissions. The vessels concerned by this project will be outfitted with wet exhaust gas cleaning systems designed to remove harmful sulphur and exhaust particulates from the vessels engine emissions. The resulting emissions will meet future more stringent international regulations and as such the project will contribute to a significant improvement of the environmental performance of the fleet.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 70 million

Total cost (Approximate amount)

EUR 152 million

Environmental aspects

The project does not require an Environmental Impact Assessment (EIA) under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The Promoter and the shipyards possess all valid IMO, ILO and EU environmental and social certification for the operation and service/maintenance of general cargo vessels. The vessel works will be classed according to EU or IACS classification society that establishes and maintains technical standards for the operation and service/maintenance of all vessels types involved in the project. The society will also validate that shipyard works are according to these standards and carry out regular surveys in service to ensure compliance with the standards. The project is expected to contribute to the reduction of air emissions and have a positive impact for the Promoter's fleet.

Procurement

The Promoter is a private company not operating in the utilities sector, and thus is not covered by EU Directives on procurement. The Promoter will conclude the procurement process through a negotiated procedure with a number of shipyards. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project and satisfactory to the EIB.

Status

Signed - 16/12/2019

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

Italy Transport