ARRASATE MIDCAP GROWTH INVESTMENTS

Promoter – Financial Intermediary

FAGOR ARRASATE SC

Location

• Spain

Description

The project concerns the Promoter's: (i) research, development and investment (RDI) investments for the digitalisation and automation of manufacturing processes and for light-weighting technologies mainly for automotive applications; (ii) capital expenditures for the deployment of digital and advanced manufacturing technologies at existing manufacturing facilities. The investments will be carried out in the period 2021-24.

Objectives

The project will support the Promoter's expansion into new advanced applications, contribute to its digital transformation, enhanced innovation, competitiveness and growth.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 10 million

Total cost (Approximate amount)

EUR 24 million

Environmental aspects

The Promoter's investments concerns research, development and innovation (RDI) activities, which will be carried out in existing facilities without changing the already authorised scope of activity, and of capital expenditures for the expansion and enhancement of existing production and research facilities, which may fall under Annex II of the Directive 2011/92/EU as amended by Directive 2014/52/EU. The Bank's services will review during the project appraisal whether any of the investments require an environmental impact assessment (EIA), and if so the status, as well as any other environmental details of the project.

Procurement

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would require the Promoter to apply those rules.

Status

Signed - 3/08/2021