Release date: 24 April 2009
Promoter – Financial Intermediary
Volkswagen Argentina S.A (VWA)
Location
Description
The project concerns the investment for the manufacturing and assembly of a new light commercial vehicle.
Objectives
Contributing to i) support of EU presence in Latin America through Foreign Direct Investment and ii) the economic development of Argentina through employment and exports.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 170 million.
Total cost (Approximate amount)
Up to EUR 341 million.
Environmental aspects
The project is expected to follow the appropriate EU environmental and social principles, standards and practices, subject to local conditions. The Bank’s services will, however, clarify the possible need for an EIA during the appraisal, subject to local conditions and the procedures followed by the Argentinean authorities in this case. Due attention will be paid to the social aspects of the project, in particular to the network of local suppliers and the indirect involvement of a large number of people in the component and service provision for the project.
Procurement
Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify the details during the project’s due diligence.
Status
Signed - 24/07/2009
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).