Release date: 16 February 2009
Promoter – Financial Intermediary
Ford of Europe
Location
Description
Construction and operation of a vehicle and engine plant in Craiova, the technical rehabilitation of the existing former Daewoo plant as well as the RDI related activities for the plant carried out in Germany.
Objectives
The project will contribute to the development of the region’s automotive industry, enhance its competitiveness and will support the development of the local cluster of suppliers. It will contribute to stabilise the employment of the current 3,900 employees and create substantial new direct employment at the site.
Comments
Loan foreseen under the European Clean Transport Facility (ECTF)
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 600 million.
Total cost (Approximate amount)
EUR 1,200 million in Romania and Germany.
Environmental aspects
The modification of a facility for the manufacture and assembly of motor vehicles falls under Annex II of the EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC. The decision made by the competent authorities for requesting an EIA on the basis of the criteria set in Annex III of the Directive and actual/possible significant impacts on protected flora and fauna (Habitats’ and Birds’ Directives) will be assessed during appraisal.
Procurement
Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.
Status
Signed - 21/12/2009
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).