Release date: 25 October 2011
Promoter – Financial Intermediary
Volvo AB
Location
Description
The project concerns the promoter’s RDI activities related to (i) reduction of emissions for trucks, buses and construction vehicles and improvement of their fuel efficiency (ii) optimisation of transport efficiency (intelligent transport systems) (iii) truck safety and (iv) reduction of noise pollution. The major part of the R&D will be carried out in Sweden and France.
Objectives
The RDI activities aim to reduce fuel consumption of trucks, buses, and heavy duty (construction) equipment and associated emissions of CO2, NOx and particulate matter. The project further concerns Volvo’s RDI activities related to optimisation of transport efficiency (intelligent transport systems) and enhanced safety.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 300 million
Total cost (Approximate amount)
EUR 600 million
Environmental aspects
The project concerns investments in research and development that 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. However, the Bank’s services will verify details, and especially the ones related a) to the location of the R&D facilities, and b) whether investments include construction of test facilities that would fall under annex II of the relevant directive.
Procurement
The promoter is a private-sector company operating in the manufacturing sector not covered by EU Directives on procurement. Procurement is expected to be in line with EIB guidelines for private sector projects, however the Bank’s services will verify details during the project’s due diligence.
Status
Signed - 15/06/2012
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).