SCA OSTRAND MILL EXPANSION AND FORESTRY (EIB-20160146)

Countries
  • Sweden
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 150 million
Converted using 2017-04-25 exchange rate.
Project Cost (USD)
$ 684.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 684 million
Converted using 2017-04-25 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Apr 27, 2017

Disclosed by Bank Apr 25, 2017


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Project Description
LOCATION Sweden DESCRIPTION The operation consists (i) in the finance of selected renewable energy, energy efficiency and environmental protection measures within an investment programme in Sweden consisting of the upgrade of a pulp mill in TimrAL and (ii) the replanting and regeneration of about 68,000 ha of forest, the construction of 4,250 km of forest roads and an upgrade of five forest terminals. OBJECTIVES The project will contribute to higher energy efficiency and innovative process optimisation. The operation also aims to upgrade and renew regional forest resources and will enhance and create employment and have significant multiplier effects on the regional rural economies. ENVIRONMENTAL ASPECTS The mill modernisation project falls under Annex I of Environmental Impact Assessment (EIA) Directive 2011/92/EU. A full EIA as well as a permit under the Industrial Emission Directive 2010/75/EU is required. Some of the investments planned within the project programme for modernisation and renewal of forest assets may fall under Annex II of the EIA Directive and would require a screening decision by the competent authority. Details of the permitting procedures, potential impact on nature conservation sites close by and sustainability and origin of the biomass will be further assessed at appraisal. PROCUREMENT The Bank will require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation.
Investment Description
  • European Investment Bank (EIB)
Contact Information
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