Project ID: 67140

ACN Worldwide and Jiangsu Bus Company Signed a MoU for the Construction of a 25 Million EUR Plant for Electric Buses in January 2020

Pledged amount

$ 31728323.931460198

Adjusted pledged amount

$ 31728323.931460198

Constant 2021 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

Jiangsu Alfa Bus Company [State-owned Company]

Recipient

Bulgaria

Sector

Transport and storage (Code: 210)

Flow type

Vague TBD

Infrastructure

Yes

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2020-01-17

Description

In January 2020, Chinese companies ACN Worldwide and the Jiangsu Alfa Bus Company, a state owned company, signed a memorandum of understanding with Bulgaria's investment agency (InvestBulgaria, IBA) for the construction of a 25 million EUR plant for electric buses. The new plant will be involved in research and development for electric busses. The investment is estimated to create 250 jobs.

Number of official sources

1

Number of total sources

6

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Details

Cofinanced

Yes

Cofinancing agencies [Type]

ACN Worldwide [Private Sector]

Direct receiving agencies [Type]

Ministry of Innovation and Growth of the Republic of Bulgaria [Government Agency]

Implementing agencies [Type]

Invest Bulgaria Agency [Government Agency]