Release date: 18 March 2009
Promoter – Financial Intermediary
Fritz Draexlmaier GmbH&CO KGLocation
Description
The project concerns the promoter’s RDI (Research, Development and Innovation) expenditures, focusing on the two main business areas: (i) car interior components; and (ii) electrical systems for passenger cars.
Objectives
The project supports the development of new materials and production technologies that are expected to result in weight reduction of interior components by up to 30 percent, and also minimising the use of petroleum-based plastics by up to 20 percent. The planned investments in efficient electrical networks and engine management systems are similarly expected to reduce the overall environmental impact. The project therefore qualifies under the Bank’s European Clean Transport Facility (ECTF). The project would also be fully eligible under RSFF (EC window to be confirmed).
Comments
Loan foreseen under the European Clean Transport Facility (ECTF)
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 100 million.
Total cost (Approximate amount)
EUR 250 million.
Environmental aspects
The project concerns investments in research and development that will be carried out in existing facilities already authorised. An EIA is therefore not required by EIA Directive 85/337/EEC, amended by Directive 97/11/EC. Overall, the project is expected to have a positive impact on the environment, as the targeted innovations focus on weight and power management optimisation, that will improve the fuel efficiency of vehicles and therefore contribute to CO2 emission reduction.
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 - 15/12/2009