Release date: 20 June 2005
Promoter – Financial Intermediary
Tofas Turk Otomobil Fabrıkası A.Ş. (Tofas)Location
Description
The project, based on a Cooperation Agreement signed between the Promoter and PSA Peugeot-Citroën S.A. and Fiat Auto SPA, comprises the development, production and sale of small, entry-level, light commercial vehicles.
Objectives
The project uses existing capacity at Tofas’ Bursa plant to build on existing cooperation between Fiat and Peugeot in the sector.
Comments
Manufacturing.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200m.
Total cost (Approximate amount)
Aproximately EUR 400m.
Environmental aspects
No EIA is required for this project. The EIB reviewed the promoter’s environmental procedures during appraisal. In 1998, Tofas became the first Turkish car manufacturer to receive the ISO 14001 certificate, which it maintains to-date.
Procurement
EU procurement legislation does not apply to the project. The Promoter’s procurement procedures satisfy EIB’s procurement policy.
Status
Signed - 12/05/2006