TOFAS RDI

Promoter – Financial Intermediary

TOFAS TURK OTOMOBIL FABRIKASI AS

Location

• Turkey

Description

The project concerns the promoter's RDI activities with regards to the development of new passenger and light commercial vehicle technology.

Objectives

The project would strengthen the promoter's capacity to develop new technology, in particular in the fields of fuel efficiency and weight reduction and specific components for the electrification of a light commercial vehicle. The project also foresees the adoption of innovative design and development methodologies by the promoter.

Comments

The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities in the fields of research, technological development, demonstration and innovation investments.

Sector(s)

• Industry

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 207 million

Environmental aspects

The project concerns investments in research and development that are expected to be carried out in existing facilities already authorized for similar activities and would therefore not require an EIA according to the Directive 2011/92/EU if located in the EU. However, the Bank’s services will review during the project appraisal whether the investment also concerns capital expenditures related to test facilities that could fall under Annex II of the EIA Directive as well as any other environmental detail.

Procurement

The Bank will require the Promoter to ensure that any procurement procedures are done in accordance with the Bank’s Guide to Procurement and the relevant applicable EU public procurement rules.

Status

Signed - 6/11/2014