Release date: 20 February 2024
Promoter – Financial Intermediary
MER MEC SPALocation
Description
The project concerns the promoter's investments in Research, Development and Innovation (RDI) in the field of rail diagnostics, signalling systems and asset management. The activities will be carried out in Italy over the period between 2023 and 2025.
Additionality and Impact
The Project contributes to further developing the Promoter's knowledge and expertise in the field of technologies that support the rail industry in its need for maintaining railway assets and increasing their reliability, safety, and efficiency. The Project will also contribute the enhance the digitalisation of railway industry through the development of smart solutions and by leveraging technologies such as enhanced connectivity, cloud computing and AI, which are crucial pillars of the railway industry's digital transition.
The Project accelerates the accumulation and diffusion of knowledge within the European industry, through the Promoter's collaboration with industrial partners, universities, and research institutes.
The Project's activities are in line with the Bank's IDHC (Innovation, Digital and Human Capital) innovation policy and therefore are eligible for the Bank's financing under the Research, Innovation and Digital (RID) Policy Priority Goal; a part of the Project contributes also to the Bank's Economic and social cohesion cross-cutting objective.
The Project contributes entirely to the Bank's Climate Action & Environmental Sustainability (CA&ES) cross-cutting objective.
The EIB financing supports Research, Development, and Innovation (RDI) activities that generate significant positive knowledge, technology, and environmental externalities, through the creation of innovative products and services and skills development and upgrading.
The Promoter's R&D capability and well-structured organisation, its focus on product and technology R&D, innovation and sustainability, its technology edge, industrialisation capability and strong ecosystem of partners, along with its experienced management will help implement a sound and sustainable project, integrating positive environmental and social dimensions, contribute to addressing and mitigating market failures, and through its additionality, contribute to the Bank's policy objectives.
The Bank's technical contribution and advice is explained by the guidance provided to align the Project scope with policy objectives at Project origination and the monitoring requirements during Project implementation.
The proposed operation satisfactorily meets funding needs of the promoter providing additional flexibility in terms of long tenor (particularly given the current tighter liquidity in the banking sector) at lower cost of funding. The EIB funding is expected to improve the promoter financial structure by spreading out its repayment profile, reducing the cost of newly incurred indebtedness as well as diversifying its funding base.
Objectives
The project covers a wide range of products, applications and services. It aims at maturing technologies and developing new products in the field of rail diagnostics, signalling systems and asset management. Some of the main objectives include the development of on-board monitoring systems for rolling stock and infrastructure, new signalling systems, solutions for integrated diagnostic or for remote fruition of railway lines diagnostic data.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 36 million
Total cost (Approximate amount)
EUR 82 million
Environmental aspects
The project consists of RDI activities that are not listed in any of the Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by the Directive 2014/52/EU. The environmental details will be verified during the project appraisal.
Procurement
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the Project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the EIB would duly inform the Commission Services and would require the promoter to apply those rules.
Status
Signed - 21/09/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).