Release date: 18 June 2012
Promoter – Financial Intermediary
BAYERISCHE MOTOREN WERKE AGLocation
Description
Financing of the installation of new assembly lines within BMW’s existing manufacturing plant in Leipzig, which will produce BMW's new generation of carbon fibre & electric/hybrid-powered cars. The project will also cover BMW's investments in Leipzig related to the production facilities of BMW’s new front-wheel driven roomy and functional vehicle.
Objectives
The investment includes machinery and equipment as well as construction works at the plant.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 350 million
Total cost (Approximate amount)
EUR 967 million
Environmental aspects
Manufacturing and assembly of motor vehicles fall under Annex II of the EIA Directive 2011/92/EU. Although the manufacturing site already exists, the project concerns an extension of the production lines and the request for an Environmental Impact assessment (EIA) would be at the discretion of local authorities. The Bank's services have received confirmation that no EIA has been required by the local authorities.
Procurement
BMW is a private company not operating in the utilities sector, and is thus not covered by EU directives on procurement. Procurement is expected to be in line with EIB guidelines for private sector projects, but nevertheless the Bank's services will verify details during the project's due diligence.
Status
Signed - 1/08/2012
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).