Release date: 16 October 2015
Promoter – Financial Intermediary
FINNLINES OYJLocation
Description
The project involves the retrofitting of sulphur oxide (SOx) "scrubbers" to the promoter's fleet as well as propeller re-bladings of six vessels.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 118 million
Environmental aspects
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.
Procurement
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.
Status
Signed - 28/06/2016
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).