Release date: 9 September 2004
Promoter – Financial Intermediary
A UK-based automotive company.Location
Description
The proposed investment programme comprises a number of selected research, development and innovative downstream investment (RDI) activities on next generation engines and the implementation of their results into products over the period 2004-2008. The project cost includes basic RDI, engineering for design, engineering for manufacturing, facilities & tooling, and industrial development and implementation.
Objectives
The programme will focus on the development of the next generation engines, improving significantly their performance, fuel economy and emission standards.The programme also supports the UK automotive industry and contributes to the creation and maintenance of employment in the context of extensive restructuring and downsizing by most vehicle manufacturers during the past few years in the UK.
Comments
Automotive industry.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 350 million.
Environmental aspects
The project will comply with all applicable environmental legislation and regulations.
Procurement
The promoter carries out competitive enquiries among potential suppliers for goods and services, as is usual in the industry. This is in line with procurement regulations for private industry projects and is in the best economic interests of the project.
Status
Signed - 18/11/2004