Release date: 25 August 2009
Promoter – Financial Intermediary
Deere & CoLocation
Description
The project concerns the promoter’s R&D investments in the field of engines and drivetrains efficiency, farming and harvesting technology, safety improvements of off-road mobile machinery cabins as well as GPS based precision farming.
Objectives
The R&D activities include: development of enhanced tractor models in line with new emissions standards in order to improve the efficiency and reach a higher performance; design of efficient power transmissions, ergonomic cabins and use of alternative energy sources; GPS applications. In the field of harvesting, enhancement of existing products and development of new products in order to improve productivity; development of new agricultural management systems. Concerning the production of engines, the objective is to improve existing engines in terms of efficiency, fuel consumption and emissions and to design new engines in order to meet the future emission standards.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 220 million.
Total cost (Approximate amount)
EUR 440 million.
Environmental aspects
The project concerns the continuation of current RDI practice and will be carried out within existing RDI facilities. An EIA should therefore not be required by EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC, unless there are new premises to be built. The promoter will be required to assure that the provisions of the EIA Directive and those of any other relevant environmental requirements are complied with.
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 - 21/07/2010
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).