Release date: 8 June 2011
Promoter – Financial Intermediary
Automotive CompanyLocation
Description
The Project concerns the financing of the Promoter's investments focused on Automotive production in convergence areas.
Objectives
The Promoters investments are expected to have a positive impact on both the regional and national economy through the development of the automotive sector in the two regions, by maintaining the competitiveness of the two production sites. The investments will therefore contribute (i) for both sites preserving the existing jobs ; (ii) for one site creating about 1000 additional permanent direct jobs there; (iii) to further stimulate the economic growth in the region through the development of the local base of suppliers
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 185 million
Total cost (Approximate amount)
EUR 422 million
Environmental aspects
Manufacturing and assembly of Motor Vehicles fall under Annex II of the EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC, and the request for an Environmental Impact assessment (EIA), would therefore be at the discretion of local and national authorities. However, since the manufacturing sites involved in the project already exist and no extension is foreseen, the current permits and environmental authorisations could be sufficient. The Banks services will clarify the possible need for an EIA during the appraisal, as well as any other environmental details.
Procurement
The Promoter is a private company operating in the manufacturing sector, not covered by EU Directives on procurement. The Banks services will verify details during the projects due diligence.
Status
Signed - 9/11/2011