ANNOUNCEMENT 06 Dec 2016
On 6 December 2016, the KfW IPEX-Bank announced it would provide a loan together with the private banks DZ Bank and BayernLB for the construction of a BMW factory in Mexico.
NUMBER OF INTERVENTIONS
The exact amount of the export credit has not been provided by KfW. However, the total investment volume of the factory in San Luis Potosi, Mexico, amounts to 1 billion USD and the three banks have divided the export credit equally. Furthermore, according to the press release, this investment is the highest ever made within KfW's Energy Efficiency Programme.
The 10-year loan qualified under the Programme, as the production facility is going to run on renewable energy sources, produce no waste water and shall use the lowest amount of water per produced car.
The factory will employ 1,500 workers and produce annually 150,000 new models of the BMW 3 Series, with production planned to start in 2019.