Reference: 20160869
Release date: 28 April 2017

Promoter – Financial Intermediary

AUTOMOTIVE GLASS MANUFACTURING MOROCCO

Location

Description

Construction of a greenfield automotive glass manufacturing plant in the Atlantic Free Zone of Kenitra in Morocco. The plant will produce windscreens, backlights and sidelights to be supplied to automotive original equipment manufacturers (OEMs) located in North Africa and southern Europe. The project will be implemented during 2017-2019.

Objectives

The project is expected to contribute to the development of the local private sector and the creation of additional jobs, which will enhance the social and economic development of the country.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 56 million

Total cost (Approximate amount)

EUR 113 million

Environmental aspects

The project entails the construction of a new automotive glass production facility. Equivalent investments in the EU would fall under Annex II of Directive 2011/92/EU as amended. The environmental dimension of the project and its individual components will be scrutinised during appraisal; in particular, i) the cumulative impact (both environmental and social), ii) raw material transport and consumption, iii) energy use and efficiency, as well as a iv) conformity check with applicable EU directives (on environmental impact assessment (EIA) and industrial emissions (IED)) and the corporate environmental, health and safety management plans.

Procurement

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

Status

Signed - 8/12/2017

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

Morocco Industry