The promoter's investment will include mainly capital expenditure related to the installation of a new automotive textile technology plant, by refurbishing an abandoned textile factory. It will also involve research, development and innovation (RDI) activities (capital expenditure and operational expenditure for new product and process technologies), as well as other tangible and intangible capital expenditure.
The EIB loan will support the promoter's RDI and deployment investments, in line with the company's strategy. The investments are also expected to have a positive impact on the promoter's competitiveness and growth.
Full environmental details will be assessed during the appraisal.
The promoter is a private company not operating in the utilities sector and not having the status of a contracting entity. Thus it is not covered by EU rules on procurement.
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