Release date: 31 July 2012
Promoter – Financial Intermediary
Arçelik A.S. is Turkey’s leading producer of white goods, LCD TVs and air conditioners. Founded in 1955, the company markets its products and services around the world, generating a consolidated turnover of EUR 3.6bn in 2011. Today, Arçelik Company is the sixth largest household appliances manufacturer in the world and the third largest one in Europe. The company has 22 000 employees, operating 14 production facilities in five countries (Turkey, Romania, Russia, China and South Africa).Location
Description
Research and Development activities in the white good and TV sectors to support energy efficiency and innovative technologies applied to new products.
Objectives
The project concerns the Group’s research and development (R&D) activities over the period 2012-2015. The activities will mainly take place in its central R&D Centre in Tuzla, between Istanbul and Gebze.
Comments
The Risk Sharing Finance Facility (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 100 million
Total cost (Approximate amount)
EUR 205 million
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities already used for similar activities, and would therefore not require an Environmental Impact Assessment according the Directive 2011/92/EU if located in the EU. Any possible environmental issues, including the coherence with the principles underlying the EU directives, will however be verified during the project’s appraisal.
Procurement
This project is undertaken by a private sector promoter, not working in the utilities sector. The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank’s Guide to Procurement and the relevant applicable EU public procurement rules.
Status
Signed - 5/12/2012
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).