Renault Asks Romania For State Aid, Guarantees In EUR310M Invest

“Different financing scenarios are currently analyzed, both for the car testing center and for the investment plan in Dacia,” Francois Fourmont, general manager of Group Renault Romania and Automobile Dacia, told MEDIAFAX Thursday.

He said that the group will invest in 2009 EUR160 million in Renault Technologie Roumanie (RTR) center in Titu, southern Romania. The total investment for the car testing facility is estimated at EUR450 million.

Fourmont also said that Renault will invest EUR150 million in the Dacia car production plant near Romanian Pitesti city.

“Among those scenarios, there are an EIB loan, guaranteed by the Romanian state (…) We also applied for state aids, according to the European regulations, for both Dacia and RTR investments,” Fourmont said.

He did not specify the state aid value, or the guarantee.

Romanian Prime Minister confirmed Thursday that Automobile Dacia and four auto parts producers will receive state aids support their output and product diversification.

Dacia will receive a EUR15.4 million state aid.

Automakers Ford and Renault requested state guarantees for EIB loans worth EUR400 million and EUR100 million, respectively, government sources stated last week.

Ford Romania may need state guarantees to get loans from EIB, while Renault may not need state guarantees to get funds from EIB, Romania’s outgoing Prime Minister Calin Tariceanu also said Thursday.