ANNOUNCEMENT 01 Dec 2016On 01 December 2016, the EIB provided financing worth EUR 60 million (USD 63 million).
NUMBER OF INTERVENTIONS
EIB, Project financing summary, 'Food Logistics and Production Modernisation', 01 December 2016.
EIB, Project summary, 'Food Logistics and Production Modernisation', 01 December 2016.
EIB, Financed projects list
European Investment Bank. Press release. Poland: Investment Plan for Europe: EIB finances Maspex’s innovative food logistics and production.
The EFSI is a joint initiative by the EIB and the European Commission to promote investment in Europe, acting as the main pillar of the Investment Plan for Europe. It provides first-loss guarantees enabling the EIB to invest in more and often riskier projects. The loan described above was issued under the EFSI and thus benefits from a full guarantee through the EU budget.
EFSI support does not fall under EU State Aid rules as it is meant as a tool to address 'market failures or sub-optimal investment situations'. However, the investment support does include favourable conditions in the form of public assumption of risk.
According to the project description issued by the EIB, The operation concerns investments in expansion, upgrading and modernisation of Maspex groups food and drinks production, logistics and storage facilities over the period 2016-2018. The operation also includes small energy efficiency and renewable energy components. The investments will be implemented in or in the vicinity of existing factories located in Tychy, Lublin, Olsztynek, Tymbark, Lowicz and Wasosz Dolny (Poland). The promoter is one of the largest beverage and food production companie.
The objective of the project is defined as following: The investment underpins the promoters strategy to increase competitiveness of its businesses through modernisation and expansion of its production sites and warehouses..
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.