Release date: 29 April 2010
Promoter – Financial Intermediary
Gruppo Grimaldi
Location
Description
The project concerns the modernisation and enlargement of the Promoter’s fleet through the acquisition of 13 new multi-purpose cargo vessels to be employed on (i) Mediterranean routes and (ii) Atlantic routes between North Europe-South America-West Africa.
Objectives
The project vessels will operate on Grimaldi’s existing EU Mediterranean routes to and from Northern European ports and West Africa and South America, contributing to the development of sustainable transport within Europe as well as between Europe and third countries, and to the Commission’s policy to promote short Sea Shipping. The aim of this policy is to help curb the forecasted substantial increase in road traffic and help rebalance the modal shares as well as bypass land bottlenecks.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to Eur 150 million.
Total cost (Approximate amount)
Approximately EUR 694 million.
Environmental aspects
The project is expected to have no significant environmental impact. The Bank's services will verify environmental and safety issues, such as emissions data and compliance with MARPOL standards, during the project's due diligence.
Procurement
Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify the details during te project’s due diligence.
Status
Signed - 5/05/2011