Summary sheet
FIAT Group
The project concerns the promoter’s investments for the modernisation and expansion of production capacity of the existing Zastava automotive plant in Kragujevac, which is controlled by the promoter through a joint-venture (JV) with the Republic of Serbia. The project includes the investments in civil works, equipment and machinery as well as general infrastructure at the factory.
The project will increase the factory production capacity. It will contribute to increasing FDI in Serbia, developing the local automotive industry, supporting the introduction of state-of-the-art equipment and production organisation, and finally contributing to the increase of exports and Serbia’s economic development.
The project is expected to follow the appropriate EU environmental and social principles, standards and practices, in accordance with local legislation. The Bank’s services will, however, clarify the possible need for an EIA and any other environmental issues during the appraisal.
Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.
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