NG GAS DISTRIBUTION II (EIB-20160353)

Countries
  • United Kingdom
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
Approved
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.
Voting Date
Feb 21, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
National Grid Gas Distribution Ltd.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 1,033.00 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 946.00 million
Converted using 2017-02-21 exchange rate.
Project Cost (USD)
$ 2,111.00 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 1933.00 million
Converted using 2017-02-21 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS May 3, 2017

Disclosed by Bank Aug 5, 2016


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Project Description
The project is part of the National Grid Gas Distribution Ltd.'s on-going capital and replacement investment program in its four gas distribution networks in the UK - North West, West Midlands, East of England and North London - for the period Quarter 2 2016-Quarter 1 2019. According to bank documents, the replacement of old mains and equipment and the expansion of the gas distribution system are necessary to maintain the standards of service and safety to existing consumers, as well as providing for growth in demand. The key activities involved are: i) mains replacement, ii) refurbishment of pipelines, valves, pressure reduction stations, governors and pressure management assets, iii) network reinforcement, iv) connection services, and v) acquisition of equipment.
Investment Description
  • European Investment Bank (EIB)
Contact Information
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