EIB provides more support to PCC Rokita
- The Bank will increase the financing granted at the beginning of last year up to EUR 67.5 million
- The obtained funds are to support the Company’s modernisation plans and the construction of the Centre for Innovation and Process Scaling.
- Both loan agreements benefit from the support of the European Fund for Strategic Investments (EFSI)
On 28 September 2020, PCC Rokita SA signed an annex to the loan agreement with the European Investment Bank (EIB), thanks to which the Bank granted to the Company additional financing in the amount of EUR 22.5 million, at the beginning of last year increasing it to EUR 67.5 million as the loan granted to PCC Rokita .
The loan agreement is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe (Juncker Plan).
The funds obtained from the financing, support the Company in the implementation of the investment with a total estimated value of EUR 110.5 million. The investments will include the expansion and modernisation of such chemical plants as the pilot plant for polyol development, the pilot plant for phosphate and phosphite production, projects involving the expansion and optimisation of manufacturing processes using electrolysis and the propylene oxide plant, construction of the Process Innovation and Scaling Centre, as well as other projects aimed at adapting the existing facilities to the increased activity scale.
“The European Investment Bank has always supported the financing of projects consistent with the EU’s objectives, both in terms of economic development and employment growth. For us PCC Rokita is a trustworthy partner f – says Prof. Teresa Czerwińska, Vice-President of the EIB. The loan is aimed at supporting the Company’s strategic investments at a time when the economy is struggling with difficulties related to the COVID-19 pandemic. In this way, the EIB will help PCC Rokita to implement development plans aimed at innovation, carbon efficiency and greater competitiveness of production processes.”
Paolo Gentiloni, the European Commissioner for the Economy, said: “Thanks to the Investment Plan for Europe, the EIB will continue its fruitful cooperation with the Polish chemical company PCC Rokita. Additional funds will help the company with further production transformations towards renewable and low-carbon materials and to develop innovative activities. All in all, this is another European investment that is good for the climate and job creation.”
“The increase in EIB financing is an expression of the EIB’s positive assessment of the Company’s financial and economic situation. – says Wiesław Klimkowski, the President of the Management Board of PCC Rokita. It is worth remembering that the EIB supports innovative projects that are not only environmentally friendly but also create prospects for long-term growth and new jobs” – adds President Klimkowski.
“An important element of our financing structure is the loan taken out at the EIB at the beginning of 2019” says Rafał Zdon, Vice-President of the Management Board of PCC Rokita. Bearing in mind the currently available sources of financing and further development of the Company, we have decided to expand cooperation with the European Investment Bank. This cooperation is long-term and the EIB is a stable financial partner ”- adds Rafał Zdon.
The European Investment Bank (EIB) is a long-term lending institution of the European Union owned by the Member States. The Bank provides long-term financing for investments that significantly contribute to the achievement of EU policy objectives. In 2019, the EIB Group allocated EUR 5.4 billion to financing Polish projects. The EIB’s relationship with BNP Paribas Bank Polska was established in 2008. Since then, both entities have been engaged in intensive cooperation.
The Investment Plan for Europe (Juncker Plan) was implemented in November 2014 to reverse the downward trend in investment and trigger an improvement in the economic situation in Europe. The innovative approach applied in the plan , using the EU budget guarantee to the EIB Group, mobilises substantial public and private sector resources to invest in strategic areas of the European economy. The Juncker Plan has already enabled investments worth nearly EUR 514 billion, including EUR 22.3 billion in Poland, and has supported more than one million start-ups and SMEs across Europe. Latest EFSI data broken down by sectors and countries, FAQ.
PCC Rokita is engaged in the production and trade of chemical products for the most important industries. These are mainly the plastics, industrial and household chemicals, refrigeration, pharmaceutical, food, construction, automotive, textiles and mining industries.
The main product categories of the company are polyols used in the production of flexible foams and polyurethane materials of the CASE type (Coatings, Adhesives, Sealants, Elastomers); alkali, chlorine, chlorine derivatives used in the plastic, chemical, paper and food industries; phosphorous products and naphthalene derivatives used in the chemical, construction, pharmaceutical, automotive and mining industries.
PCC Rokita Capital Group consists of about 30 subsidiaries. The majority shareholder of PCC Rokita is PCC European Company based in Duisburg. PCC Group conducts expansion in international markets in the following divisions: Chemistry, Energy, Logistics. PCC SE currently employs over 3 500 employees in 18 countries.