AUTOSHOW-UPDATE 1-Nissan Europe projects eligible for EIB aid

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GENEVA, March 2 (Reuters) - Nissan Motor Co Ltd
<7201.T> is on track with its full-year targets and
its projects in Europe may be eligible for up to 400 mln euros
($504.8 million) of support from the European Investment Bank
(EIB), a senior executive told Reuters on Monday.
Japan's third largest carmaker, which like its peers has
been hit by a worldwide slump in auto sales, said last month it
had submitted numerous dossiers to the EIB for consideration,
and was expecting a response sometime this year.
"The EIB indicated that Nissan had submitted projects that
were eligible under its programme of financial support. Nissan
is eligible up to a total of 400 million euros, like Renault,
PSA, all the European automakers," said Eric Nicolas, senior
vice president of administration and finance for Nissan
Europe.
He added that being judged eligible for EIB help was an
early stage in the process of seeking funds.
The group, 44 percent owned by French alliance partner
Renault SA , is "on track" to meet its full-year cash
preservation targets, as well as its objective to reduce stocks
of unsold vehicles, said Nicolas.
He confirmed that the group still expected a 180 billion
yen operating loss for the full year, which would be the first
annual loss under CEO Carlos Ghosn and as forecast last month.
[nT132934]
($1=.7924 Euro)
(Reporting by Helen Massy-Beresford and Matthias Blamont;
editing by Jeffrey Benkoe)
((helen.beresford@thomsonreuters.com; +33 1 49 49 54 52;
Reuters Messaging:
helen.beresford.thomsonreuters.com@reuters.net))
Keywords: AUTOSHOW/NISSAN

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