ANNOUNCEMENT 19 Jun 2014

On 19 June 2014, the EIB provided financing worth EUR 110 million (USD 150 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 19 Jun 2014 | Removal date: open ended

State loan

On 19 June 2014, the European Investment Bank (EIB) and Fjord Line as signed an agreement worth EUR 110 million (approx. USD 150 million) for the project Fjord Line Ropax Vessels from Denmark-Norway. The total cost of the project is estimated at EUR 220 million.

According to the project description issued by the EIB, The project comprises the financing of two new ferries, which will offer daily services between Bergen, Stavanger, Kristiansand (Norway) and Hirtshals (Denmark). Each vessel has a capacity to carry 1.500 passengers and up to 600 vehicles. The project cost amounts to EUR 249.4m and the second of the two vessels was delivered on 9th March 2014..

The objective of the project is defined as following: The project will replace older and less environmental friendly vessels and will increase the capacity deployed on this route. It will hence contribute to the development of sustainable European transport and to the EU policy to promote short sea shipping..

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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