SAVIOLA SUSTAINABLE FURNITURE

Promoter – Financial Intermediary

SAVIOLA HOLDING SRL

Location

• Italy

Description

The project comprises the promoter's investments in research, development and innovation (RDI) as well as capital investment in production equipment in its three business units, namely (i) wooden panels, (ii) furniture and (iii) chemicals. The investment will be carried out in Italy in existing sites in the period 2017-2019.

Objectives

The project is expected to support the growth of the group, particularly the furniture business unit, as well as the development of new products through RDI activities. Moreover, the capital investments target the partial refurbishment of already installed production capacity to allow for improved production efficiency as well as the installation of new equipment to allow for new productions.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 100 million

Environmental aspects

All the project RDI activities are expected to be carried out in existing facilities that will not change their already authorised scope and would therefore not require an environmental impact assessment (EIA) under Directive 2014/52/EU amending the EIA Directive 2011/92/EU; moreover the installation of new equipment is not expected to require any additional permits. Nevertheless, the Bank's services will review during the project appraisal whether any of the investments requires an EIA, as well as any other environmental details of the project.

Procurement

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, thus not subject to EU rules on public procurement.

Status

Signed - 22/12/2017