Release date: 8 February 2010
Promoter – Financial Intermediary
Indesit Company S.p.A.
Location
Description
The project covers the promoter’s RDI investment in the area of household appliances, namely to improve their user friendliness and environmental characteristics and the modernisation of some production facilities located in convergence regions.
Objectives
The project is expected to bring about positive environmental results, as it focuses on developing innovative solutions to reduce water and energy consumption and to adopt recycled materials in the production process.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 75 million
Total cost (Approximate amount)
Approximately EUR 155 million
Environmental aspects
Investments in research, development and innovation are expected to be carried out in existing facilities already authorised, in which case an EIA would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. Part of the project covers the revamping of production facilities. The production of households’ appliances is not listed in EIA Directive 97/11. No environmental problems are expected from this project. However, the Bank’s services will check compliance with applicable environmental regulations of production plants and operations during the project’s due diligence.
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 - 30/12/2010