Release date: 15 May 2002
Promoter – Financial Intermediary
Toyota Group, i.e. Toyota Motor Corporation, Japan through its local subsidiary, Toyota Motor Manufacturing Turkey (TMMT).Location
Description
Modernisation of an existing vehicle manufacturing plant in Adapazari (eastern Marmara region – some 120 km east of Istanbul), and increase of its capacity to accommodate the production of selected models of the new Toyota Corolla model family.
Objectives
The project will give an economic impulse to the eastern Marmara region of Turkey. The project will create new jobs with the number of employees expected to double from about 1150 last year to nearly 2000 by the year 2005.
Comments
Automotive industry.
Sector(s)
Proposed EIB finance (Approximate amount)
Approximately EUR 125 million
Total cost (Approximate amount)
Approximately EUR 350 million
Environmental aspects
The promoter follows EU Directive requirements for all activities carried out in its European organisation, including the Turkish operation. In accordance with its normal procedure, the Bank will ensure that appropriate measures will be taken with respect to environmental protection.
Procurement
Procurement regulations do not apply to this private industry project. The promoter can be expected to carry out competitive enquiries among potential suppliers for goods and services, as is usual in the industry. This will be verified during the project appraisal.
Status
Signed - 28/10/2002
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).