Release date: 6 June 2002
Promoter – Financial Intermediary
Princes LimitedLocation
Description
An investment programme to modernise capital assets across several divisions of the promoter. With this programme, Princes aims to enhance its competitive position in the UK and Europe, and to maintain or improve health, safety and environmental standards.
Objectives
The programme targets investments in various divisions mainly located throughout Objective 1 and 2 areas, characterised by a substantial reduction in industrial activity over the last decades. The project will contribute to sustain and improve the international competitiveness of this low cost food producer and manufacturer. Although it is not anticipated to generate significant new employment, the project will contribute to sustaining business competitiveness. One of the sub-projects will have a positive impact on urban renewal, since it aims at relocating two industrial sites from city centre locations to a dedicated industrial area.
Comments
Foods Industry
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 25 million (EUR 40 million)
Total cost (Approximate amount)
GBP 54 million (EUR 87 million)
Environmental aspects
Part of the promoter's investment programme aims to maintain its installations for legal compliance for food processing and environmental emissions. Given the location, type and size of the investments EIAs are not expected to be required.
Procurement
Private sector project.
Status
Signed - 13/08/2002
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).