ANNOUNCEMENT 26 Jul 2012

On 26 July 2012, the EIB provided financing worth EUR 100 million (USD 123 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 26 Jul 2012 | Removal date: open ended

State loan

On 26 July 2012, the European Investment Bank (EIB) and Papeles y Cartones De Europa SA signed an agreement worth EUR 100 million (approx. USD 123 million) for the project Europac Paper Production Upgrade from France-Portugal-Spain. The total cost of the project is estimated at EUR 232 million.

According to the project description issued by the EIB, The project consist of main components of Europacs 2011-2014 strategic plan aiming to upgrade papermills and paperboard installations and including related investments in France, Spain and Portugal..

The objective of the project is defined as following: The investments will help to produce lighter, more resource efficient products, based on more energy efficient technologies..

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