EximBank supports companies working with EU funds: 14 Mil. RON granted to Orion Auto Invest
Bucharest, June 18, 2012 – EximBank granted to Orion Auto Invest (Arges county) a total financing line amounting to Ron 13,8 Mil., allowing the company to develop an investment project also financed by non- reimbursable European funds through the Operational Sectorial Program – Increase of Economic Competitiveness – Priority Tier 1 – An innovative and eco-efficient production system.
The project drafted by the company – specialized in production of metal structures – aims at buying tools and equipment to develop the production capacity and increase the company’s competitiveness.
„We are glad to notice that in spite of the economic turmoil, there are Romanian entrepreneurs who continue to invest for development and consequently for creating new jobs. The involvement of EximBank as part of this process shows once again the persistency of the Bank in fulfilling its mission to support the business environment” declared Ionut Costea, President of EximBank.
The company located in Arges county, participated in a series of important investment projects such as: the Basarab Bridge in Bucharest (building the tram station that connects the two vestibules from Titulescu and Grivita, anti-seismic elements, the pedestrian wall and the structural beams of the central piers ) the Calafat-Vidin Bridge (execution of the centralized pipes system for the rain waters drainage, anti-vandalism protection elements, span wire bridge), the span wore bridge Viaducto del Corgo, Portugal (structure elements), Aircraft Airbus (elements of structure assembling), Dacia – Renault Automobiles Factory (energy development and production flow), the Technological Center Renault Technologies Roumanie (energy infrastructure).
”This investment is a considerable effort for us but we are fully aware that only through production flow improvement and industrial traceability we will be able to ensure the increased quality standards of our products and finally better financial results” said Ion Scortar, General Manager of Orion Auto Invest.
EximBank offers to companies with projects relying on structural funds a mix of products including co-financing and pre-financing loans as well as comfort and non-committal letters or guarantees.
Recently, the Bank granted a financing package exceeding Euro 6 million to enable the accomplishment of a large investment project relying on a funds received within the Regional Operational Program 2007 – 2013 (REGIO), Top priority pier – Consistent Development and Travel Promotion.
As per the specific type of project, EximBank may extend investment loans meant to co-finance the constituent accounting for company’s own contribution. Through such product a company having entered into a financing agreement with the management authority is entitled to 100% of the value of eligible and non-eligible expenses incurred by company’s contribution.
Likewise the bank may pre-finance the loans required by companies to bridge the gap between the time of payments to project related suppliers and the time of collection from the management authority, covering for 100% of the EU funds granted.
The package is completed with comfort letters; through such an instrument the bank expresses its willingness to place at company’s disposal the funds for project implementation, provided the management authority has agreed to the project. EximBank can also guarantee those credits engaged by companies with the commercial banks to turn to good account the projects relying on structural funds.
Companies expressing an interest in EximBank products may apply directly to the territorial units of the bank, located in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva Iaşi and Sibiu. Likewise further information may be reached at the website www.eximbank.rowhere a special section is devoted to products designed for those entrepreneurs dealing with EU funded projects.