EBRD Bolsters Serbian Automotive Lighting with €15 Million Loan for Energy-Efficient Expansion
(IN BRIEF) Feka Automotive, a prominent Serbian automotive lighting producer with ties to major global car manufacturers, including Toyota and Volkswagen, is set to undergo a significant expansion with the support of a €15 million loan from the European Bank for Reconstruction and Development (EBRD). This funding will facilitate the construction of a new energy-efficient production facility and the acquisition of advanced technology, aiming to enhance efficiency and capacity while reducing energy consumption. The project aligns with EBRD’s focus on promoting private-sector competitiveness, green-energy transition, and sustainable infrastructure in Serbia, further solidifying its commitment to fostering economic growth and environmental sustainability in the region.
(PRESS RELEASE) LONDON, 18-Apr-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) is supporting the investment by extending a €15 million loan to Feka Automotive (Feka), a Serbia-based producer of automotive lighting. Feka, which has supply contracts with leading international car manufacturers such as Toyota, Volkswagen and Stellantis, will use the funds to improve its overall efficiency and increase the availability of reliable lighting devices to customers around the world.
The EBRD loan will help Feka, a subsidiary of Turkish Feka Otomotiv A.S, to construct a new energy-efficient production facility adjacent to its principal production facility near Cuprija in central Serbia. The funds will also be used for the acquisition of rooftop solar panels and the installation of new state-of-the-art, energy-efficient production lines and equipment.
The new production buildings are designed to achieve B-rated energy performance levels, which is above the national requirement. The project’s scope also includes the acquisition of advanced production technology that promises superior energy and production efficiency. By implementing these upgrades, Feka aims to significantly reduce energy consumption.
The EBRD is a leading institutional investor in Serbia and has now invested more than €9 billion through 353 projects, of which the majority have supported the private sector. The Bank’s focus in Serbia is on supporting private-sector competitiveness, green-energy transition and sustainable infrastructure.
Media Contact:
Tel: +44 207 338 7805
Email: Group-PressUnit@ebrd.com
SOURCE: EBRD
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