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FINNLINES ENVIRONMENTAL RETROFIT

Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Finland : € 50,000,000
Transport : € 50,000,000
Signature date(s)
28/06/2016 : € 50,000,000
Link to source

Summary sheet

Release date
16 October 2015
Status
Reference
Signed | 28/06/2016
20150428
Project name
Promoter - financial intermediary
FINNLINES ENVIRONMENTAL RETROFIT
FINNLINES OYJ
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
EUR 118 million
Location
Sector(s)
Description
Objectives

The project involves the retrofitting of sulphur oxide (SOx) "scrubbers" to the promoter's fleet as well as propeller re-bladings of six vessels.

The scrubber retrofits are being performed in order that the promoter's vessels comply with the EU Sulphur Directive which restricts vessels operating in EU sulphur emission areas (SECAs) from emitting more than 0.1% sulphur in their exhaust gases from January 2015. The re-bladings are designed to increase propulsion efficiency and thereby decrease fuel consumption and emissions.

Environmental aspects
Procurement

The project concerns the sulphur scrubber and re-blading retrofits of roll-on/roll-off passenger/freight (ro-pax) and roll-on/roll-off freight (ro-ro) vessels and does not require an environmental impact assessment (EIA) under Annex II of Directive 2011/92/EC. Any potential environmental issues will be investigated during the project's appraisal.

The promoter is a private company which is not operating in the utilities sector, and is thus not covered by EU directives on procurement. The Bank will, however, review the promoter's processes during the project's due diligence.

Link to source

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).

Documents

Environmental and Social Data Sheet (ESDS) - FINNLINES ENVIRONMENTAL RETROFIT
Publication Date
5 Feb 2016
Document language
Main Topic
Lending
Document Number
62644854
Document Focus
Environmental Information
Project Number
20150428
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - FINNLINES ENVIRONMENTAL RETROFIT
Publication Date
1 Jan 2019
Document language
Main Topic
Lending
Document Number
85755311
Document Focus
Environmental Information
Project Number
20150428
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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