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    Reference: 20180265
    Release date: 5 September 2018

    Promoter – Financial Intermediary

    AGCO CORP

    Location

    Description

    The project concerns the promoter's research, development and innovation (RDI) expenditures related primarily to agricultural tractors and engines and, to a smaller extent, to crop sprayer equipment and combines. The RDI activities will be carried out in the promoter's existing reseach and development (R&D) facilities located in Marktoberdorf (Germany), Beauvais (France), Suolahti and Linnavuori (Finland) as well as, to a smaller extent, in two other EU-based R&D centres in the 2019-21 period.

    Objectives

    The main RDI themes target product development to ensure compliance with the EU legislation (Stage V emission targets), the development of new product features, the enhancement of the platform programmes to improve modularity and standardisation as well as innovation activities to keep the current product portfolio updated. The project also includes research on connectivity, agricultural processes automation, digitalisation, robotics, adoption of alternative fuels and electrification representing the key technology framework for the company's most advanced RDI activities.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 250 million

    Total cost (Approximate amount)

    EUR 522 million

    Environmental aspects

    Research and development activities on agricultural machinery are not listed in any of the annexes of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU. The financed activities will be carried out in existing facilities, already authorised, that will not change their scope due to the project, thus not requiring any additional environmental permits.

    Procurement

    The promoter is a private company not operating in the utilities sector and does not have the status of a contracting authority. Thus, it is not covered by EU Directives on procurement. Procedures followed are in the best interest of the project and satisfactory for the Bank.

    Status

    Signed - 17/12/2018

    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

    Finland France Germany EU Countries Industry