European Investment Bank (EIB) said on January 21 that it would lend 400 million euro to Ford Romania for the expansion and refurbishment of the company’s car assembly plant the southwestern city of Craiova.
Romania’s government would guarantee 80 per cent of the loan, making use of the European Commission’s temporary easing of state aid rules, which gives European Union member states more spending latitude to counteract the economic and financial crisis.
The EIB loan will finance investments in Ford’s plant in Craiova for the facilities and tooling needed for the production of a new B-segment vehicle with a start of production in the near future and production of the existing model of the light commercial vehicle and a new model scheduled to be launched later, the bank said. EIB funds will also help to introduce the production of a new small, advanced-technology petrol engine with low fuel consumption.
When expanded, the plant’s production capacity is expected to reach an annual output of up to 300 000 vehicles and 300 000 engines.
„The EIB has also approved – in principle – a loan of 200 million euro that will finance research, development and innovation towards the development of vehicles and engines to be produced in the Craiova plant. However, these activities will be carried out in Ford’s facilities located mainly in Germany,” the bank said.
EIB vice-president Matthias Kollatz Ahnen, responsible for lending in Romania, said it was the latest in the bank’s measures to help Europe’s car industry, having lent 8.2 billion euro to the industry in 2009.

Read the article on Sofia Echo

EIB to lend 400M euro to Ford Romania

European Investment Bank (EIB) said on January 21 that it would lend 400 million euro to Ford Romania for the expansion and refurbishment of the company’s car assembly plant the southwestern city of Craiova.
Romania’s government would guarantee 80 per cent of the loan, making use of the European Commission’s temporary easing of state aid rules, which gives European Union member states more spending latitude to counteract the economic and financial crisis.
The EIB loan will finance investments in Ford’s plant in Craiova for the facilities and tooling needed for the production of a new B-segment vehicle with a start of production in the near future and production of the existing model of the light commercial vehicle and a new model scheduled to be launched later, the bank said. EIB funds will also help to introduce the production of a new small, advanced-technology petrol engine with low fuel consumption.
When expanded, the plant’s production capacity is expected to reach an annual output of up to 300 000 vehicles and 300 000 engines.
„The EIB has also approved – in principle – a loan of 200 million euro that will finance research, development and innovation towards the development of vehicles and engines to be produced in the Craiova plant. However, these activities will be carried out in Ford’s facilities located mainly in Germany,” the bank said.
EIB vice-president Matthias Kollatz Ahnen, responsible for lending in Romania, said it was the latest in the bank’s measures to help Europe’s car industry, having lent 8.2 billion euro to the industry in 2009.

Read the article on Sofia Echo

Postat de pe data de 31 dec., 2009 in categoria România în lume. Poti urmari comentariile acestui articol prin RSS 2.0. Acest articol a fost vizualizat de 97 ori.

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