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    Signature(s)

    Amount
    € 68,000,000
    Countries
    Sector(s)
    Romania : € 68,000,000
    Industry : € 68,000,000
    Signature date(s)
    13/07/2018 : € 68,000,000

    Summary sheet

    Release date
    13 July 2018
    Status
    Reference
    Signed | 13/07/2018
    20170452
    Project name
    Promoter - financial intermediary
    WHITE GOODS FACTORY ROMANIA
    ARCTIC SA
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 68 million
    EUR 138 million
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the construction and ramp-up in two stages of a large-scale green-field washing machine production plant featuring advanced manufacturing technologies. At completion in 2019, the factory is expected to produce some 2.2 million units/year, allowing the promoter to fill the gap between the currently installed capacity and future expected demand. The final products are meant for the European market and would substitute products sold under the same brand but currently produced in the Turkish factories of the same Group.

    The proposed project aims at strengthening the local value-added of a Romanian white goods company mainly serving the European market. In view of the less developed status of the Romanian region of South-Muntenia, the investment aims at supporting the structural development of the local private sector in terms of industrial know-how and competitiveness, leading to increased prosperity and reduced economic and social disparities within the region.

    Environmental aspects
    Procurement

    The investment concerns the construction of industrial buildings and infrastructures, as well as machinery and equipment necessary for production. As such, the project falls under Annex II of the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU being an "industrial estate development". The local competent authority has requested an EIA and Appropriate Assessment (AA), which have been carried out by the promoter including a public consultation. The Bank will review in detail the relevant environmental and social aspects during the appraisal processes.

    The promoter is a private company, not operating in the utilities sector and does not have the status of a contracting authority; thus the project is not covered by the 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).

    Documents

    Environmental and Social Data Sheet (ESDS) - WHITE GOODS FACTORY ROMANIA
    Publication Date
    13 Mar 2019
    Document language
    Main Topic
    Lending
    Document Number
    76353596
    Document Focus
    Environmental Information
    Project Number
    20170452
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Impact Assessment (ESIA) - WHITE GOODS FACTORY ROMANIA - Raport Privind Impactual Asupra Mediului
    Publication Date
    14 Mar 2019
    Document language
    Main Topic
    Lending
    Document Number
    91799576
    Document Focus
    Environmental Information
    Project Number
    20170452
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    News & Stories

    General enquiries and comments

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    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.
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