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March 21, 2023

EximBank supports companies implementing EU-funded projects: Almost RON 14 M financing for Orion Auto Invest

EximBank has granted Orion Auto Invest, based in Arges County, a total financing of RON 13.8 M, which will allow the company to implement an investment project benefiting from non-repayable funds through the Operational Sector Programme ‘Improving Economic Competitiveness’, Priority Axis 1 – An innovative and efficient production system.The project of the Arges company specialising in the manufacturing of metal constructions includes the purchasing of machines and equipment to increase production capacity and improve competitiveness. ‘It is a promising signal that, despite the adverse economic context, there are Romanian entrepreneurs who continue investing in development and, by that, in the creation of jobs. EximBank’s commitment as a part of the process demonstrates the consistency with which the bank assumes the fulfillment of its mission – support private business environment,’ said EximBank President Ionut Costea.  The company from Arges has participated in a number of important investment projects such as the Basarab Flyover in Bucharest (where it built the tram stop connecting the two Titulescu and Grivita vestibules, as well as the anti-seismic elements, the pedestrian balustrade, structural beams of the centre pillars), the Calafat-Vidin Bridge (the centralised pluvial drain system piping, anti-vandalism protection elements – cable-stayed bridge etc), the Viaducto del Corgo cable-stayed bridge,  Portugal (structure elements), Aircraft Airbus (mounting structure elements), Dacia-Renault Automotive Plant  (energy and manufacturing turnaround development), the Renault Technologies Roumanie technology centre (where it provided the energy infrastructure).  “This investment represents a considerable effort for us, but only by modernizing the technological flow and through industrial traceability will we be able to ensure a qualitative hike for our products and, in the end, a growth of financial indicators,” Ion Scortar, Orion Auto Invest General Manager stated. EximBank offers to companies that run projects financed from structural funds an integrated package of products that includes co-financing and pre-financing loans, as well as non-committal letters of intent or guarantees. The bank recently offered a financing package that surpasses EUR 6 M for an investment that benefits from non-reimbursable funds as part of the 2007-2013 Regional Operational Programme, Priority Axis 5 – durable development and promoting tourism. Depending on the type of the project, EximBank can offer investment loans for co-financing the component that represents a company’s own contribution. Through this product, a company that signed a financing contract with the management authority can obtain 100 per cent of the value of eligible and non-eligible expenditures due to its own contribution. Likewise, the bank offers loans for pre-financing the companies’ needs in order to cover the delays that appear in the case of payments made to suppliers and received from the management authority as part of the projects. They can ensure up to 100 per cent of the European financing obtained.The package is completed by letters of comfort, an instrument through which the bank expresses its intention of placing at the company’s disposal the funds needed to support the project, on condition it is accepted by the management authority. Moreover, EximBank can guarantee loans that companies obtain from other commercial banks in order to implement projects financed from structural funds. The companies interested can contact EximBank’s local branches in Bucharest, Bacau, Brasov, Constanta, Cluj, Craiova, Timisoara, Buzau, Oradea, Deva, Iasi and Sibiu. Likewise, economic operators can obtain more information on the www.eximbank.ro website that features a special section for products destined to entrepreneurs that run European-financed projects.

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