Release date: 6 February 2023
Promoter – Financial Intermediary
METSO OUTOTEC OYJLocation
Description
The project covers the promoter's research, development and innovation (RDI) related operational expenditures in minerals and aggregates processing in the EU for the years 2022 to 2025.
Additionality and Impact
The project is eligible for EIB financing under Article 309 point (c) Common interest, and qualifies under the Bank's "Innovation; Digital and Human Capital" public policy goal.
The financing of this project supports RDI activities in the minerals and aggregates processing areas, which are expected to improve the resource efficiency, performance and the overall sustainability of the concerned sectors through the development of solutions and services that improve energy, emission and water efficiency, safety and circular business models; as such a part of the project is expected to contribute to the Bank's Climate Action & Environmental Sustainability objectives.
The promoter's investments address the market failures and gaps associated with (i) imperfect competition and incomplete markets for innovative sustainable technologies, and those addressed by (ii) projects with positive knowledge, environmental and safety externalities generation.
The EIB support to this operation is expected to provide tangible financial benefit, positively contributing to the promoter's RDI investment implementation. The loan's long loan tenor combined with flexible disbursement and repayment terms, features not in the same extent available from commercial banks or capital markets, are well suited for the project's projected cash flows. The loan is expected to provide positive signalling effect to other financiers, thereby facilitating the project's financing and implementation.
Objectives
The aim is to improve sustainability in the area of minerals and aggregates processing, by developing innovative technologies and solutions that contribute to reduce energy and water consumption and related emissions, thus supporting the implementation of a circular business model, while also improve safety.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 60 million
Total cost (Approximate amount)
EUR 127 million
Environmental aspects
The project RDI investments will be be carried out in already existing and authorised facilities. The project does not fall under any of Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by the Directive 2014/52/EU, and therefore it does not require screening or EIA Report. Further details will be analysed during the due diligence. The results of this R&D project are expected to contribute to the development of more sustainable aggregates and mineral processing industries.
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 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 - 15/12/2022
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).