SNIM VIII

Promoter – Financial Intermediary

SOCIETE NATIONALE INDUSTRIELLE ET MINIERE

Location

• Mauritania

Description

The project consists of the dredging works related to the deepening and enlargement of the access channel to the Port of Nouadhibou solid bulk terminal, where iron ore from the Société Nationale Industrielle et Minière (SNIM) production facilities is handled. The project will allow bigger vessels to berth at the SNIM terminal increasing the environmental sustainability of the supply chain associated to SNIM's business model.

Objectives

The project consists of the capital dredging works related to the deepening and enlargement of the access channel to the Port of Nouadhibou solid bulk terminal, where iron ore from the SNIM production facilities is handled. The project will allow bigger vessels to berth at the SNIM terminal increasing the operational efficiency and environmental sustainability of the supply chain associated to the business model of SNIM. The construction is expected to last a total of 14 months.

Comments

The Borrower is a repeat and long-term client of the EIB.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 119 million

Environmental aspects

If within the EU, the project would fall under Annex I of the EIA Directive 2011/92/EU and would require a full Environmental Impact Assessment (EIA). In compliance with these requirements, an environmental and social impact assessment (ESIA) is being prepared and public consultations shall be undertaken. Once the ESIA is approved by the environmental authority, an enhanced Environmental and Social Management Plan (ESMP) will also be prepared. During the appraisal process the Bank will check the compliance of the above mentioned procedures and documents with the EIB's environmental and social standards.

Procurement

The Bank will require the promoter to ensure that all contracts for the implementation and operation of the project have been or shall be tendered in accordance with the Bank's Guide to Procurement. Procurement procedures and status for the various project components will be checked in detail during the appraisal process.

Status

Signed - 28/06/2018