Release date: 11 January 2021
Promoter – Financial Intermediary
VALMET OYJLocation
Description
The project comprises the Promoter's research, development and innovation (RDI) activities in the field of machinery for pulping and fiber, paper and board, tissue and energy production and applications for other industries. The project covers the period between 2020 and 2023 and will be carried out in the Promoter's research and development (R&D) locations in Finland and Sweden.
Objectives
The project aims at improving the digital content of the Promoter's products and service offering, improving products' performance and their resource efficiency as well as at developing applications of new bio-based materials.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 234 million
Environmental aspects
The project is expected to be carried out in existing R&D facilities that will not change their already authorised scope due to the project. The need for an environmental impact assessment (EIA) as per directive 2011/92/EU amended by directive 2014/52 EU is therefore unlikely. The Bank's services will review the environmental aspect of the project during the due diligence process.
Procurement
The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.
Status
Signed - 21/12/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).