A pool of banking institutions composed of Crédit Agricole Italy, in the role of arranger, lender and agent bank, and UniCredit, Cassa Depositi e Prestiti (CDP) and Banco BPM, in the roles of arranger and lender, provided a loan of 29.5 million euros, assisted by the SACE guarantee, to Fratelli Cosulich for the construction of a gas tanker. The SACE intervention is part of as part of the operation of the "Strategic survey for The Italian economy in terms of the activation of processes production and employment" within the meaning of Article 2 of the Legislative Decree No 143/1998.
The financing, which will cover 70% of the value Total of the entire operation equivalent to approximately 44 million dollars, will be used by Fratelli Cosulich for the construction of a ship that, with its approximately 5,300 tons of deadweight, will be able to carry over 8,200 meters cubes of liquefied natural gas and 500 cubic meters of MGO (marine) gasoil), as well as a load management facility which will be designed and built by Wartsila Gas System. In addition to conventional boil off management systems (GCU - Gas Combustion - Unit), the unit will also be ready for installation of a "subcooling" LNG plant, which will allow to have the most effective technologies for reducing the Boil Off Gas, with the consequent total elimination of potential environmental impacts, albeit limited and deriving from the use of the GCU. These characteristics, among other things, have allowed Fratelli To receive a grant from the Union European which aims to support the development of distribution of alternative fuels to contribute to the decarbonisation of transport in Europe. In this context, CDP has acted as executive partner of the European Commission for Italy, facilitating access to European resources.