ITALY: The European Investment Bank is providing MerMec with a €30m loan to finance research and development of digital railway technology, including signalling for driverless trains, and diagnostic and management technology for rolling stock and infrastructure assets.
An agreement covering the first €20m was signed by EIB Vice-President Gelsomina Vigliotti and MerMec Group Chief Financial Officer Michele Costa. R&D will be undertaken in Italy in 2023-25, making use of advanced connectivity technologies, cloud computing and artificial intelligence.
The programme ‘confirms MerMec Group’s wide-ranging commitment to invest in research and development, promoting sustainability and innovation in the rail sector and creating economic, social and environmental value’, Costa said on September 22.
‘This agreement not only strengthens our ability to make this vision a reality, but also confirms the key role of international financial institutions in accelerating positive change.’
