Release date: 2 February 2009
Promoter – Financial Intermediary
Volvo Car Corporation
Location
Description
The project concerns the part-financing of Volvo Car Corporation’s forecast R&D expenditures in the 2009-2012 period.
Objectives
The project concerns investments in research and development for future low emission engines and related platform development for cars.
Comments
Loan foreseen under the European Clean Transport Facility (ECTF)
Sector(s)
Proposed EIB finance (Approximate amount)
Loan up to EUR 500 million.
Total cost (Approximate amount)
Approximately EUR 2 000 million.
Environmental aspects
The project concerns investments in research and development that will be carried out in existing facilities already authorised. An EIA therefore is not required by EIA Directive 85/337/EC, amended by Directives 97/11/EC. Overall, the project is expected to have a neutral impact on the environment, while the products of the programme will significantly reduce CO2 emissions with a direct positive impact on the environment. The expenditures relating to the development and adaptation of the related manufacturing facilities, will also take place in existing facilities where appropriate environmental permissions have been granted.
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 - 22/12/2010
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).