Philips Lighting Maseru
- Reference: 20080573
- Release date: 12 May 2009
Philips Lighting Maseru (Pty) Ltd
- Lesotho
Operation of a manufacturing plant in Lesotho aimed at producing energy saving fluorescent lamps for the Southern African market (including recycling).
To produce energy efficient lamps in order to assist the South-African Government with the role-out of its Energy Demand Side Management Initiative. The project will create 500 jobs, and will be one of the first FDI helping the Lesotho economy to diversify its industrial structure away from the footloose textile industry.
- Industry
EUR 5 million.
Total cost (Approximate amount)EUR 7.6 million.
Environmental aspectsThe production activities will be carried in a building rented from the Lesotho National Development Company, for which the competent authority has decided that an EIA is necessary. The owner of the building has prepared a full EIA which is currently under public consultation and of which the bank has received a copy. The promoter has prepared, as requested by the local authorities, an Environmental Management Plan which has already been submitted to the competent authorities. Positive conclusions of the EIA with necessary supporting documentation by the competent Authority and of the EMP remain conditional for disbursement of the loan.
The promoter is a private company operating in a competitive manufacturing sector not covered by EU Directives on procurement.
Signed - 27/07/2010.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).
