The European Investment Bank’s (EIB) loan of €18 million, backed by a guarantee from the European Fund for Strategic Investments (EFSI), will support Tapojarvi, a family-owned Finnish business that specialises in handling, processing, and recycling services for the mining and steel industry, in reducing the environmental impact of this industry while promoting a shift towards a circular economy and the development of innovative processes. The funds will cover Tapojarvi’s investment in an innovative slag processing and valorisation plant located in Umbria, Italy.
The project will also cover the initial testing and ramp-up phases to transform the slag into valuable by-products and reduce landfilling. This will entail the deployment of advanced manufacturing technologies compliant with industry 4.0 principles, introducing innovative recycled products mainly for construction use, and reducing the consumption of natural resources and raw materials. Moreover, the project will also contribute to creating more than 500 jobs during the implementation phase.
Paolo Gentiloni, Commissioner for the Economy, said: “I welcome the EIB support, backed by the Investment Plan for Europe, for Finnish company Tapojarvi. This funding will go towards an innovative industrial plant in Umbria, and towards developing ways to transform slag into valuable by-products and reduce landfilling. In doing so, the project will support the regional economy and the creation of 500 jobs in the implementation phase, while increasing recycling and reducing the consumption of natural resources and raw materials in the steel and mining industry.” EFSI is the main pillar of the Investment Plan for Europe, which has so far mobilised €524.3 billion of investment, benefitting over 1.4 million small and medium-sized businesses.
Source: European Commission