The UK Government will help finance Ciner Glass’s container glass production facility in Lommel, Belgium.

UK Export Finance (UKEF) has agreed to provide financial support in respect of the supply and installation of glass furnaces for the facility.

The maximum liability of the support is approximately £100.5 million.

BNP Paribas were appointed as the Mandated Lead Arranging Bank.

The key aim of the project is to produce container glass for the Belgian, Dutch and German markets, as well as for possible neighbouring countries.

The project includes:

  • Two production line buildings (one for green glass and one for amber glass).
  • Storage facilities (raw materials, waste and finished products).
  • Three groundwater extraction wells.
  • Three rainwater infiltration basins.
  • On site utilities (including an electrical distribution building and a gas pressure reduction station).
  • Offsite connections to local utilities supplies (gas pipeline and electricity cable) being delivered by local utilities providers.

Various actions have been agreed between the project developer, operator, and parties involved in the financing, which are necessary to ensure the project’s on-going alignment with international standards.

Following agreement of these commitments, it was concluded that the project should meet the relevant international standards over the project cycle.

UKEF has therefore decided to provide its support in respect of the supply of goods and services by UK exporters, such as Tecoglas, to the project.

Other Export Credit Agencies (ECAs) supporting the project include SACE and SERV.

It is also funded by the Flemish Government’s inward investment agency Gigarant.