Together with DZ BANK and BayernLB, KfW IPEX-Bank has closed the syndicated financing for the BMW Group’s new plant in San Luis Potosí, Mexico. Each of the three banks is contributing an equal share to the total lending volume. The loan arranged by KfW IPEX-Bank has a tenor of 10 years. Given the new plant’s particularly good energy efficiency, it can be funded under KfW’s Energy Efficiency Programme. This marks the single biggest commitment ever made in connection with these programme loans.
“We are very pleased to be able to support BMW, our long-standing and esteemed business partner, with this key project, which sets new standards in terms of sustainability and energy efficiency,” commented Markus Scheer, member of the Management Board of KfW IPEX-Bank. “In this transaction we have made use of our years of experience and expertise when it comes to arranging and structuring large-volume financing.”
The new BMW Group plant being built in central Mexico is scheduled for completion by 2019. It involves a total investment volume of around USD 1 billion and will create at least 1,500 new jobs. The facility will produce the 3 Series Sedan, the BMW Group’s most successful model series, and its annual production capacity will reach some 150,000 vehicles.
With its innovative production system and comprehensive environmental standards, the plant in San Luis Potosí will be the BMW Group’s most resource-efficient production facility from its first full year of production. The plant will be supplied to 100% with CO2-free power, for instance through the use of renewable sources of energy. Much of the power will be generated by an on-site solar system.
The efficient use of water resources is also an important sustainability target in San Luis Potosí. Within the production network of the BMW Group the new plant will use the lowest volume of water per manufactured vehicle. The BMW Group will operate its first paint shop generating no process waste water, as the water required will be treated and reused.