BMW South Africa

completed

BMW South Africa Pty. Ltd, Pretoria (the “company” or “BMW SA” - http://www.bmwplant.co.za) is an affiliate company of and wholly owned by Bayerische Motoren Werke Aktiengesellschaft (“BMW AG” or together with its subsidiaries, the “BMW Group”) – The BMW Group is one of the most successful makers of passenger vehicles and motorcycles worldwide and among the largest industrial companies in Germany. With BMW, MINI and Rolls-Royce, the BMW Group owns three of the strongest premium brands in the automotive industry. The BMW Group is also recognized for its responsible human resource management, sustainable and environmentally responsible production, as well as its Corporate Social Responsibility (CSR). IFC has previously financed suppliers of the BMW Group, but the proposed financing, for BMW SA will be the first direct financing within the BMW Group. IFC is considering providing financing to BMW SA for the upgrade of its existing automotive assembly plant to produce the new BMW X3 model in its Rosslyn Plant in South Africa (https://goo.gl/maps/G8KSymiZQTn). The proposed project will assist the company in the transition of production from the currently assembled BMW 3-Series sedans to the assembly of the next generation of the BMW X3 model (the “project”). The new BMW X3 model will feature overall vehicle weight reduction initiatives including aluminum in selected body parts and a broader introduction of lightweight construction as well as higher fuel efficient engine options, thereby ultimately reducing CO2 emissions.