Heijmans falls after Dutch court ruling on carbon storage project
02/11/2022 10:49
** Shares in Dutch building firm Heijmans HEIJ.AS fall 5%
after the Dutch court said major carbon capture project in the
Rotterdam port area does not meet European environmental
guidelines
** The highest court in the Netherlands said it needed more
time to decide whether the project should be halted
** It also said an exemption for building activities from
strict European regulations on nitrogen emissions could no
longer be used, potentially causing delays for projects
throughout the country
** ING's Tijs Hollestelle says the ruling will be negative
for the construction sector due to more environmental
restrictions incorporated in building projects and permits
** While the ruling indicates that it will not lead to a
complete standstill of the sector, the court case will continue
as the environmentalist will likely appeal against it, he adds
** Including today's fall the stock has dropped by 31.95%
YTD
(Reporting by Dagmarah Mackos; additional reporting by Bart
Meijer)
((dagmarah.mackos@tr.com))