PIRELLI R&D 2013-2015

Financing of the company's research and development (R&D) investment programme for the period 2013-2015 for improved product and process performance and environmental impact of tyres.

Objectives

The programme's main objectives include the development of innovative products with more environmentally friendly materials for high breaking performances, low noise, low rolling resistance and longer useful life, reduction of weight, definition of predictive tyre-vehicle interaction models, development of innovative efficient production technologies, efficient reuse of the materials derived from discarded tyres and development of commercial vehicle products with improved performances and retreadability for the reduction of waste.

Comments

n.a.

Sector(s)

Industry

Proposed EIB finance (Approximate amount)

EUR 150 million

Total cost (Approximate amount)

EUR 350 million

Environmental aspects

The project concerns primarily investments in R&D expected to be carried out in existing facilities already authorized. It would therefore not require an Environmental Impact Assessment (EIA) under Annex II of the Directive 2011/92/EU. The project however also includes capital expenditures related to the R&D activities. Whether these investments fall under Annex II of the EIA Directive, along with any other environmental issues, will be clarified during the projects appraisal.

Procurement

The promoter is a private 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, but the Banks services will nevertheless verify details during the projects due diligence.

Status

Approved - 20/11/2012.

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).

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Guide to procurement

This Guide applies specifically to those components of a project identified for the Bank's financing.