IDBInitialize::Initialize Returned 0x80004005

When executing the following SQL statement we get the error as message below:

INSERT INTO [dbo].[ProductImport] ([CustomerName], [AccountCode], [ProductCode], [Description1],
[Description2], [MaterialType], [Brand], [PGroup], [Type], [GSM], [Colour], [Size1], [Size2], [Microns],
[PriceQuantity], [PriceUnit], [Packed], [Price], [MinQuantity], [TonnePrice], [LeadTime], [WebURL])

SELECT [CustomerName], [AccountCode], [ProductCode], [Description1], [Description2], [MaterialType], [Brand],
[PGroup], [Type], [GSM], [Colour], [Size1], [Size2], [Microns], [PriceQuantity], [PriceUnit], [Packed], [Price],
[MinQuantity], [TonnePrice], [LeadTime], [WebURL]
FROM OPENROWSET('Microsoft.Jet.OLEDB.4.0',
'
Text;Database=D:ApplicationsxxxxxxxxxAppRootxxxxxxxxxSQLCatalogues;HDR=YES', 'SELECT * FROM [product_test.csv]')
AS ImportFile WHERE [ImportFile].[MaterialType] IN (1, 2, 3, 4)


Error message
Server: Msg 7399, Level 16, State 1, Line 5
OLE DB provider 'Microsoft.Jet.OLEDB.4.0' reported an error.
[OLE/DB provider returned message: Unspecified error]
OLE DB error trace [OLE/DB Provider 'Microsoft.Jet.OLEDB.4.0' IDBInitialize::Initialize returned 0x80004005: ].



This is being run on
Microsoft SQL Server 2000 - 8.00.2039 (Intel X86)
Windows 2003, build 3790.srv03_gdr.070301-2306


Have checked a number of knowledge base articles
C:Windowssystem32msjet40.dll version 4.0.8618.0

REGEDT32: HKEY_LOCAL_MACHINESOFTWAREODBC, Administrator/everyone full access

D:ApplicationsxxxxxxxxxAppRootxxxxxxxxxSQLCatalogues has full permissions for Administrator/everyone groups

Can anyone suggest the next step to identifying a possible cause to this issue.