The EBRD is considering providing EUR 44 million in portage equity to Renault Technologie Roumanie (RTR). RTR will construct a Test Centre at Titu, which is between Bucharest and the main production site of Renault’s subsidiary, Dacia, at Pitesti.
1 - The Titu Test Centre will be the only comprehensive automotive testing centre out of France for Renault.
2 - Renault will develop links with local universities and other academic institutions including a two year master programme to be offered in conjunction with five Romanian technical universities.
3 Finally it will help improve the technological level and quality of components produced by local suppliers through closer contact and more rapid feedback during the development cycle and the opportunity to test more technologically innovative components locally.
RTR is Renault’s regional engineering centre. Renault (the Sponsor) has already invested in RTR EUR 36 million. RTR’s main activities are designing and developing vehicles.
The investment is a EUR 44 million portage equity finance to RTR.
European Investment Bank will also provide financing to the project..
EUR 166 million.
Screening Category: B (2008).
The environmental and social due diligence, including a site visit by the Bank’s Environmental Specialist, confirmed that
(a) the new Test Centre will be constructed and operated to Renaults’ high environmental standards
(b) will be in compliance with similar plants in Europe and best international environmental practice and
(c) all of present and future operations will be in compliance with the Bank’s relevant Performance Requirements (PRs).
A Phase 1 and 2 Environmental Site Assessment was carried out by independent consultants, to identify existing environmental liabilities at the project site. Results of the site investigations identified the requirement for the removal of an underground fuel storage tank and the decontamination of localised soil/groundwater. This will be implemented in due course and will form part of the Environmental and Social Action Plan (ESAP).
The proposed site location for the Titu test centre is located on a former military airfield and limited impact to sensitive biodiversity is anticipated. All of Renault's industrial sites comply with ISO 14001 environmental certification standards and this will be developed in full at the Titu centre. Labour and working conditions at Titu will be in full compliance with relevant Romanian legislation, international Occupational Health and Safety (OHS) and labour standards. The Titu test centre will be located approximately 1.5 km from the nearest settlement and 5km from the town centre and community, health and security issues are not anticipated. However, RTR's EHS management systems will include noise abatement, emissions reduction, emergency response and stakeholder engagement plans.
Renault Technologie Roumanie
RO RTR NG2401
North Gate Business Centre, Sos Pipera-Tunari2/III
077191 Ilfov, Voluntari, Romania
Tel: +40 21 406 3001
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