Release date: 14 March 2019
Promoter – Financial Intermediary
CUBIC TELECOM LTDLocation
Description
The project will support the company's network expansion and the development of its connectivity management platform through investments in research and development (R&D).
Objectives
The project will help the promoter achieve its objective of enhancing its connectivity services and analytics platform to address the evolving needs of the automotive market and the wider IoT (Internet of Things) ecosystem.
Sector(s)
- Telecom - Information and communication
Proposed EIB finance (Approximate amount)
EUR 24 million
Total cost (Approximate amount)
EUR 47 million
Environmental aspects
The project activities do not fall under Annexes I and II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to a mandatory EIA. The activities included in the scope of the project will be performed in existing buildings and are not expected to have any relevant environmental impact. The Bank's Services will review during the project appraisal any other environmental details of the project.
Procurement
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal the EIB were to conclude that the promoter is after all subject to EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation.
Status
Signed - 18/07/2019
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).