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    Reference: 20210508
    Release date: 14 March 2022

    Promoter – Financial Intermediary

    HINOJOSA PACKAGING GROUP SL

    Location

    Description

    The project aims at upgrading, modernising and further enhancing the production of recycled cartonboard and recycled and renewable packaging boards in several production plants located in Spain and Portugal. Most of the production plants are located in less developed regions of EU27.

    Objectives

    The project will support the production of recyclable packaging solutions from recycled pulp produced from collected, used cartonboard, and is consistent with the Promoter's overall strategic focus on sustainable and renewable packaging solutions and the circular economy. It will secure long-term sustainability and competitiveness of the Promoter in a growing market for sustainable packaging, and will enable innovation, knowledge and skills development in less developed regions of the EU. The investment will contribute to power and heat generation, higher energy efficiency and process optimisation in the Promoter's plants, and will thereby contribute to strengthening the European paper recycling value chain, with anticipated spillover effects in the local and regional economies.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 30 million

    Total cost (Approximate amount)

    EUR 67 million

    Environmental aspects

    The investment will deliver effective and sustainable solutions for combatting global problems such as environmentally persistent waste leakage by substituting fossil-based materials (e.g. plastics) with recycled and recyclable materials. This is in line with the EU Bioeconomy and Plastics strategies (incl. Single-use Plastics Directive), and with the EU Circular Economy Package. In addition, the upgrading and modernisation process is expected to reduce the environmental footprint of the operations while bringing an increase in resource efficiency. The project is aligned with the Paris Agreement, with the Bank's Climate Action and Environmental Sustainability objectives and will therefore contribute to the EU Green Deal. More details and confirmation of the eligible investments will be assessed during the appraisal. The environmental permitting and any elements of the project that may fall under the scope of Annex I of the EIA Directive 2014/52/EU (amending the EIA Directive 2011/92) and under the IED Regulation will be addressed during appraisal.

    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 require the Promoter to apply relevant applicable EU procurement rules.

    Status

    Signed - 4/03/2022

    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