| Project Detail |
The project will support the promoters research, innovation and development (RDI) programme over a 4-year-period (2024-2028). R&D activities focus on: - smarter iron and steelmaking processes with a lower footprint; - new high-tech steel and special steel products.
Additionality and Impact
The project fully supports the Banks Public Policy Goal Innovation, Digital and Human Capital - Research, Innovation and Digital and partially CA&ES climate mitigation - RDI. The project concerns private sector RDI for (i) smarter iron and steelmaking processes with a lower footprint and (ii) new high-tech steel and special steel products. While the outcome and ultimate commercialisation of R&D activities are highly uncertain the supported project is associated with positive knowledge externalities. They are generated through the promoters collaboration with customers, other steel producers, universities and research institutes. In addition, the outcome of the R&D activities, if successful, will as well lead to multiple positive environmental and climate externalities. Given the wide range of sectors in which the promoters products will be used, the knowledge spill-overs will generate benefits for society and for many sectors of the economy that are greater than those captured by the investors financial returns. The Banks contribution to the project is underpinned by a combination of advantageous terms, a meaningful loan amount as well as a signalling effect in terms of confidence in the business model, thereby facilitating the projects financing and full implementation.
Objectives
The aim of the RDI investments is to support the promoters long-term competitiveness, maintain its technological leadership, create new innovative steel products and develop steel manufacturing processes with lower footprints by, among others, adapting its product portfolio to customer requirements and key industry trends.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 350 million
Total cost (Approximate amount)
EUR 779 million |
