Brief: Seri Industrial Says Unit Wins EUR-427-Mln European Funds For Energy Transition Project

Seri Industrial SpA

10/12/2019 08:19

Dec 10 (Reuters) - Seri Industrial SpA  SERK.MI :
    * SAID ON MONDAY THAT EUROPEAN COMMISSION GRANTED CO'S UNIT
FIB
FUNDS FOR EUR 427.1 MLN 
    * FUNDS ARE PART OF IMPORTANT PROJECTS OF COMMON EUROPEAN
INTEREST
(IPCEI) PROGRAMME 
    * SUBSIDY WILL FUND FIB'S PROJECT FOCUSSED ON PRODUCTION,
MODULES,
AND CELLS FOR LITHIUM BATTERIES AND BATTERY RECYCLING 
    * FIB'S PLAN INVOLVES INVESTMENTS FOR EUR 358.6 MLN AND
OPERATIONAL COSTS FOR EUR 147.3 MLN IN 2020-2026
    * SUBSIDY COVERS 75% OF TOTAL FUNDS DISBURSED BY EUROPEAN
COMMISION FOR ITALIAN COMPANIES
    * UNDER PROGRAMME EUROPEAN COMMISSION GRANTED TOTAL AMOUNT
OF EUR
3.2 BLN TO 17 COMPANIES OPERATING IN BELGIUM, FINLAND, FRANCE,
ITALY, POLAND AND SWEDEN
    * FUNDS GRANTED TO FIB INCLUDE CLAW-BACK MECHANISM FOR
RETURN OF
EXTRA PROFITS NOT INCLUDED IN PLAN

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA64GjHf
    
 Further company coverage:  SERK.MI  
   


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