Search En menu ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 5,000,000
    Countries
    Sector(s)
    Lesotho : € 5,000,000
    Industry : € 5,000,000
    Signature date(s)
    27/07/2010 : € 5,000,000

    Summary sheet

    Release date
    12 May 2009
    Status
    Reference
    Signed | 27/07/2010
    20080573
    Project name
    Promoter - financial intermediary
    Philips Lighting Maseru
    Philips Lighting Maseru (Pty) Ltd
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 5 million.
    EUR 7.6 million.
    Location
    Sector(s)
    Description
    Objectives

    Operation of a manufacturing plant in Lesotho aimed at producing energy saving fluorescent lamps for the Southern African market (including recycling).

    To produce energy efficient lamps in order to assist the South-African Government with the role-out of its Energy Demand Side Management Initiative. The project will create 500 jobs, and will be one of the first FDI helping the Lesotho economy to diversify its industrial structure away from the footloose textile industry.

    Environmental aspects
    Procurement

    The production activities will be carried in a building rented from the Lesotho National Development Company, for which the competent authority has decided that an EIA is necessary. The owner of the building has prepared a full EIA which is currently under public consultation and of which the bank has received a copy. The promoter has prepared, as requested by the local authorities, an Environmental Management Plan which has already been submitted to the competent authorities. Positive conclusions of the EIA with necessary supporting documentation by the competent Authority and of the EMP remain conditional for disbursement of the loan.

    The promoter is a private company operating in a competitive manufacturing sector not covered by EU Directives on procurement.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications