Umicore factory under construction with EIB funds

The European Investment Bank (EIB) has signed a EUR 125 mln loan with Umicore to finance the construction of a factory in a greenfield project around 25 km from the Czech border close to the town of Nysa. The factory is currently under construction and the loan covers around half of the costs for the first stage of the project. Eventually the factory will create around 350 full-time jobs and produce cathode materials for lithium-ion batteries that are to be used in electric vehicles The EIB expects to provide over EUR 1 bln in financing for battery-related projects over 2020, which is similar to the amount of backing the EIB has offered to such projects over the last decade. Since 2010, financing for battery projects from the EIB has totalled EUR 950 mln in support of overall project costs that have come to EUR 4.7 bln. Umicore is a global materials technology and recycling group based in Belgium. It generates most of its revenues from clean mobility materials and recycling and this is also where it devotes most of its R&D. The group has manufacturing plants and R&D centres throughout the world and in 2019 it generated revenues (excluding metal) of EUR 3.4 bln on a turnover of EUR 17.5 bln. At the end of last year it employed over 11,000 people. The EIB is the long-term lending institution of the European Union and is owned by its member states. It pursues a policy of making commercially viable loans to further EU policy goals and as a result it claims to be one of the world's largest multilateral lenders for climate investments. In 2019, the EIB committed to increase its lending for projects that promote environmental sustainability to at least 50% by 2025 and over the next decade, it intends to provide over EUR 1 tln in financing to both public and private sector borrowers to help prevent climate change. Check current warehouses for rent in cities such as Warsaw, Łódź, Poznań, Katowice, Sosnowiec, Tychy, Chorzów, Kraków, Wrocław, Gdańsk, Szczecin. Visit warehousemarket.pl every day and contact our experts to save time and optimize cost of renting warehouse space.