| Project Detail |
The loan will finance research, development and innovation (RDI) activities to develop new tools for industrial production, mining and construction equipment. RDI investments will be carried out in the Groups existing RDI centres in Sweden, Finland and Germany over the 2022-2025 period.
Additionality and Impact
The proposed operation supports the Banks Research, Innovation and Digital objective.
The financing of this project supports RDI activities in developing new products and technologies in the area of construction and mining equipment, as well as in the field of tools and tooling systems for advanced industrial metal cutting. The project is expected: (i) to increase the productivity of the promoters customers through the development of innovative solutions in terms of performance, quality, speed, safety, flexibility and energy efficiency; (ii) to improve the cost competitiveness of the promoters products and technologies; and (iii) to allow the deployment of environmentally-friendly technologies and solutions in related industries.
The project will generate positive knowledge externalities through cooperation with suppliers, customers, scientific institutes and universities. Moreover, the project will also help maintain highly skilled jobs in the promoters EU27 research facilities, specifically in Sweden, Finland and Germany.
The promoters investments address the market failures and gaps associated with (i) imperfect competition and incomplete markets for innovative sustainable technologies and those addressed by (ii) projects with positive knowledge and environmental externalities generation.
The Banks contribution to the project is also supported by a combination of advantageous terms, flexible availability and utilisation of the loan. The loan is expected to crowd-in other financiers, thereby facilitating the projects financing and implementation.
Objectives
The promoters RDI investments in new product technologies will improve productivity and environmental sustainability in the manufacturing processes of the promoters clients, by contributing to the deployment of new machining and tooling solutions on the market.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1212 million |
