Release date: 14 September 2009
Promoter – Financial Intermediary
CIE AutomotiveLocation
Description
The project concerns the promoter’s expenditures on RDI activities, linked to a broad range of metal, plastics, aluminium and machining technologies. The promoter is specialised in stamping, tube forming, aluminium die casting, forging, machining and plastic injection technologies required in the production of steering, engine and transmission parts.
Objectives
The majority of the planned projects target emissions reductions and fuel efficiency by e.g., developing lighter metal and plastic parts that contribute to the weight reduction of cars. In addition, several projects focus on car safety and the recyclability of components.
Comments
The project is eligible under the Risk Sharing Finance Facility (RSFF). RSFF is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 87 million.
Total cost (Approximate amount)
EUR 174 million.
Environmental aspects
The project concerns investments in research and development that will be carried out in existing facilities, and therefore an Environmental Impact Assessment (EIA) is not required by EU Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC.
Procurement
The promoter is a private company operating in the manufacturing sector not covered by EU Directives on procurement.
Status
Signed - 23/12/2009
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).