KfW IPEX-Bank finances greener chemicals
Frankfurt am Main (ots)
- Modernisation investment by the Dutch AkzoNobel group
- Changeover to environmentally friendly production process at
Höchst industrial park
- Funds from KfW Environmental ProgrammeKfW IPEX-Bank is providing the financing for an innovative investment in the form of a EUR 120 million loan. The loan will be used by AkzoNobel, which has its headquarters in Amsterdam/Netherlands, to change its chlorine production process at its location at the Höchst industrial park near Frankfurt. The mercury amalgam plant used thus far will be replaced by a new membrane electrolysis plant by the last quarter of 2013.
The state-of-the-art technology will produce electricity savings of nearly 30% compared to the mercury amalgan process. In addition, there will be no more traces of mercury in wastewater streams in the future. The project meets the strict conditions of the KfW Environmental Programme under which the funds are being provided.
Markus Scheer, member of the Management Board of KfW IPEX-Bank, is pleased about the successful close of the financing: "We are thrilled that our financing was able to contribute to a forward-looking investment in environmental protection and resource conservation by our long-term client AkzoNobel. The financing of environmental and climate protection measures forms part of the core business of KfW IPEX-Bank."
AkzoNobel is one of the world's leading specialty chemicals companies. In Germany the group employs altogether more than 4,000 people at 30 different locations.
About KfW IPEX-Bank
KfW IPEX-Bank GmbH is responsible for international project and export finance within KfW Bankengruppe. Its function of providing financing to support the German and European economy is derived from the legal mandate of KfW Bankengruppe. Its prime focus is on medium and long-term lending to support the export economy and develop economic and social infrastructure, and for environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling the promotional mission of KfW Bankengruppe. It has around 570 employees and is represented in the key economic and financial centres around the globe.
Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel. 069 7431-2984, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de
Original content of: KfW IPEX-Bank, transmitted by news aktuell