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    Reference: 20150748
    Release date: 25 July 2016

    Promoter – Financial Intermediary

    EL CORTE INGLES SA

    Location

    Description

    The project, to be mainly implemented in Madrid, Spain, with applications affecting all stores throughout the country, will support the promoter's goal of transforming its digital technologies and systems to become the basis for the multichannel sales platform, and to appropriately adapt and optimise the logistics supply chain that comes with it.

    Objectives

    The project will support a leading Spanish retail chain's efforts to safeguard its competitive position by investing in Research, Development and Innovation (RDI) and contributes to the targets of the Europe 2020 Strategy.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 116 million

    Total cost (Approximate amount)

    EUR 232 million

    Environmental aspects

    The IT development activities and investments are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An environmental impact assessment (EIA) is therefore not needed as per EIA directive 2011/92/EU.

    Procurement

    The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

    Status

    Signed - 14/12/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Services