Release date: 29 April 2009
Promoter – Financial Intermediary
Pirelli Tyre S.p.A
Location
Description
The project includes two parts: (i) the promoter’s investments in the period 2009-2012 for R&D and Innovation, aimed at improving the product and process performance as well as their environmental impact and (ii) the promoter’s investments in tooling, machinery and new advanced production processes, directly related to the implementation of the results of the promoter’s R&D activities; these investments will be carried out within the newly refurbished production site of Settimo Torinese.
Objectives
The project corresponds to the EC policy orientations to promote both private sector and competitive innovation and the protection of the environment.
Sector(s)
Proposed EIB finance (Approximate amount)
Maximum EUR 250 million.
Total cost (Approximate amount)
About EUR 500 million.
Environmental aspects
A part of the project concerns investments in R&D and innovation that will be carried out in existing facilities, already authorised and for which an EIA is not required by EIA Directive 83/557/EEC, amended by Directives 97/11/EC and 2003/35/EC. Another part of the project mainly concerns the investments in tooling, machinery and production processes. The Bank’s services will verify details during the project’s due diligence and whether an EIA is required by EIA Directive 83/557/EEC, amended by Directives 97/11/EC and 2003/35/EC.
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 - 12/11/2009
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).