Release date: 18 September 2003
Promoter – Financial Intermediary
A UK-based automotive company.Location
Description
The project involves the design and development of two new versions of a car model, together with the refitting of the existing production facilities and the necessary suppliers' tooling.
Objectives
The project 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. The EIB contribution to the project will also improve the economics of this significant investment program by providing attractive long term funding.
Comments
Automotive industry.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 250 million.
Environmental aspects
The project will comply with all applicable environmental legislation and regulations.
Procurement
Procurement regulations do not apply to this private industry project. The promoter carries out competitive enquiries among potential suppliers for goods and services, as is usual in the industry.
Status
Signed - 10/11/2003
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).