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    Reference: 20210307
    Release date: 3 January 2022

    Promoter – Financial Intermediary

    ERCROS SA

    Location

    Description

    The project concerns investments in the areas of research and development (R&D), digitalisation, decarbonisation and modernisation of some key manufacturing production for the period 2021-2024.

    Objectives

    These investments of the project will support the Promoter's new strategy to transform the company into a sustainable company. This strategy streamlines the investments into decarbonisation of its operations to combat climate change, diversification to sustain the downturn of economic cycles, and digitalisation to modernise and increase productivity.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 40 million

    Total cost (Approximate amount)

    EUR 96 million

    Environmental aspects

    One component of the project falls under Annex II of the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU and hence requires either an environmental impact assessment (EIA) or a screening decision from the competent authorities. All components are expected to be complaint with best available techniques (BAT). The research, development and innovation (RDI) activities part of the project will be carried out in existing R&D facilities of the Promoter. RDI activities are not mentioned in the EIA Directive and therefore, the activities are not expected to require an EIA. It will be assessed during due diligence if any other component of the project requires an EIA or a screening decision in accordance with the directive. All environmental aspects will be appraised in detail during due diligence.

    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 - 23/12/2021

    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