RAFFINERIA DI MILAZZO

Promoter – Financial Intermediary

RAFFINERIA DI MILAZZO SCPA

Location

• Italy

Description

The project consists of various investments at a refinery located on the northern coast of Sicily. A third of the total investment will aim at improving the energy efficiency of the plant by installing heat-recovery systems in four existing process units; a third will be directed to adding a sulphur-recovery unit to the refinery to improve the reliability index of the refinery and the remaining part will be used to comply with the Italian environmental legislation with regard to the protection of groundwater and to overhaul the fire-fighting system.

Objectives

The operation intends to reduce the plant's atmospheric emissions, to improve its energy efficiency and to upgrade its fire-fighting capabilities.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 110 million

Total cost (Approximate amount)

EUR 236 million

Environmental aspects

The project is not expected to require an environmental impact assessment (EIA). All environmental authorisations and relevant documents including the operational and construction permits will be reviewed during the project's due diligence.

Procurement

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation, then the Bank would 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.

Status

Signed - 18/12/2015