Release date: 25 July 2016
Promoter – Financial Intermediary
EL CORTE INGLES SA
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.
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.
Proposed EIB finance (Approximate amount)
EUR 116 million
Total cost (Approximate amount)
EUR 232 million
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.
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.
Signed - 14/12/2016
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).