Release date: 14 January 2010
Promoter – Financial Intermediary
AB Volvo (publ.)
Location
Description
The project concerns the part-financing of AB Volvo Group’s annual R&D expenditures in the year 2010. The project has the same scope and objectives as the ongoing project with the Promoter and will be the basis for a second loan.
Objectives
The project concerns investments in research and development for future low emission engines and related chassis development for transport and construction vehicles.
Sector(s)
Proposed EIB finance (Approximate amount)
Loan up to EUR 400 million
Total cost (Approximate amount)
Approximately EUR 2 256 million
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities already authorized in which case an EIA would not be required by EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank’s services will verify details, and especially the ones related to the location of the R&D facilities, during the project’s 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 - 29/06/2010
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).