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    Reference: 20200741
    Release date: 22 December 2021

    Promoter – Financial Intermediary




    The proposed investments concern the deployment of state-of-the-art machinery and equipment to support the modernisation of the company's ceramic production. The investments will be carried out at existing locations of the promoter in Hungary and Czech Republic over the period 2021-2024.

    Additionality and Impact

    The project supports the modernisation of existing installed capacity via more energy-efficient, state-of-the art, transitional technologies that will enable the facilities concerned to shift to low carbon or renewable sources when these become economically available. Hence it is aligned with the EU's objective to decarbonise energy-intensive industries, such as the ceramic tile industry, by the year 2050. The project generates positive environmental externalities such as a reduction of CO2 / square metre of tiles, dust and noise emissions as well as lower process waste. The project's outcomes include innovative final products that have an improved environmental footprint. In addition the project generates important knowledge spill-over. The proposed loan complements other external funding and internal sources and strengthens the company's capital structure. EIB's favourable and customised terms are appreciated by the company. Moreover, the proposed loan from EIB, a stable anchor financier with a long-term investment strategy and commitment, is an important signal towards the company's current and potential new commercial financing partners.


    The financed activities aims at improving production efficiency, at achieving important energy savings, optimising the power usage by implementing energy measurement and management systems as well as deploying additional environmental impact mitigating measures by reducing dust and noise emissions. Part of the project aims at expanding the installed capacity with modern equipment to produce tiles in calibrated larger format.


    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 102 million

    Environmental aspects

    Manufacture of ceramic products by burning, in particular roofing tiles, bricks, refractory bricks, tiles, stoneware or porcelain fall under the Annex II of the EIA Directive 2014/52/EU amending the Directive 2011/92/EU; it is therefore not excluded at this stage that the competent authority will require an EIA for some of the project's components. The Bank's services will review the environmental aspects of the project during the due diligence process.


    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 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.


    Signed - 3/11/2021

    Related tags

    Czech Republic Hungary Industry