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TOFAS TURKEY

Signature(s)

Amount
€ 175,000,000
Countries
Sector(s)
Türkiye : € 175,000,000
Industry : € 175,000,000
Signature date(s)
12/05/2006 : € 35,000,000
12/05/2006 : € 140,000,000
Link to source
Data sheet
TOFAS TURKEY
Other links
Summary sheet
Tofas Turkey
Related press
Turkey’s car industry in perpetual motion

Summary sheet

Release date
20 June 2005
Status
Reference
Signed | 12/05/2006
20050248
Project name
Promoter - financial intermediary
Tofas Turkey
Tofas Turk Otomobil Fabrıkası A.Ş. (Tofas)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200m.
Aproximately EUR 400m.
Location
Sector(s)
Description
Objectives

The project, based on a Cooperation Agreement signed between the Promoter and PSA Peugeot-Citroën S.A. and Fiat Auto SPA, comprises the development, production and sale of small, entry-level, light commercial vehicles.

The project uses existing capacity at Tofas’ Bursa plant to build on existing cooperation between Fiat and Peugeot in the sector.

Environmental aspects
Procurement

No EIA is required for this project. The EIB reviewed the promoter’s environmental procedures during appraisal. In 1998, Tofas became the first Turkish car manufacturer to receive the ISO 14001 certificate, which it maintains to-date.

EU procurement legislation does not apply to the project. The Promoter’s procurement procedures satisfy EIB’s procurement policy.

Comments

Manufacturing.

Link to source
Summary sheet
Tofas Turkey
Other links
Data sheet
TOFAS TURKEY
Related press
Turkey’s car industry in perpetual motion

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).

News & Stories

Link to source
Related press
Turkey’s car industry in perpetual motion
Other links
Data sheet
TOFAS TURKEY
Summary sheet
Tofas Turkey

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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