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Signature(s)

Amount
€ 240,000,000
Countries
Sector(s)
France : € 96,000,000
Sweden : € 144,000,000
Industry : € 240,000,000
Signature date(s)
15/06/2012 : € 96,000,000
15/06/2012 : € 144,000,000
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Summary sheet

Release date
25 October 2011
Status
Reference
Signed | 15/06/2012
20110041
Project name
Promoter - financial intermediary
Volvo Trucks 2020 Fuel Efficiency

Volvo AB

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 300 million
EUR 600 million
Location
Sector(s)
Description
Objectives

The project concerns the promoter’s RDI activities related to (i) reduction of emissions for trucks, buses and construction vehicles and improvement of their fuel efficiency (ii) optimisation of transport efficiency (intelligent transport systems) (iii) truck safety and (iv) reduction of noise pollution. The major part of the R&D will be carried out in Sweden and France.

The RDI activities aim to reduce fuel consumption of trucks, buses, and heavy duty (construction) equipment and associated emissions of CO2, NOx and particulate matter. The project further concerns Volvo’s RDI activities related to optimisation of transport efficiency (intelligent transport systems) and enhanced safety.

Environmental aspects
Procurement

The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised, in which case an EIA would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank’s services will verify details, and especially the ones related a) to the location of the R&D facilities, and b) whether investments include construction of test facilities that would fall under annex II of the relevant directive.

The promoter is a private-sector company operating in the manufacturing sector not covered by EU Directives on procurement. Procurement is expected to be in line with EIB guidelines for private sector projects, however the Bank’s services will verify details during the project’s due diligence.

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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).

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.

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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.

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