Release date: 19 November 2014
Promoter – Financial Intermediary
AGCO CORPLocation
Description
The project comprises AGCO's research and development (R&D) activities focusing on engine and drive train efficiency for agricultural vehicles, predominantly taking place in Marktoberdorf (Germany) and to a lesser extent in Beauvais (France) and in Linnavuori and Suolahti (both Finland).
Objectives
The project will contribute to a reduction of exhaust emissions, a reduction of operator and bystander noise levels, a reduction of operator exposure to vibrations during operations as well as numerous future safety-related items linked to the vehicles' homologation.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 409 million
Environmental aspects
The project concerns investments in Research, Development and Innovation that will be carried out in existing facilities already authorised for which an environmental impact assessment (EIA) is not required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2000/35/EC. The project may nevertheless include new test benches for engines and tractors which may fall under Annex II of the EIA Directive. The Bank’s services will verify all the environmental details and the decision of the competent authorities during the due diligence.
Procurement
The promoter is a private-sector company operating in the manufacturing sector not covered by EU Directives on procurement. Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.
Status
Signed - 18/12/2014
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).