Italy: €30 million EIB loan to Mermec for rail system digitalisation
Christian Fernsby ▼ | September 23, 2023
The European Investment Bank (EIB) is providing €30 million to support the research, development and innovation activities of Mermec Group, an Italian multinational headquartered in Monopoli and a world leader in the design and development of integrated diagnostics, signalling, and railway, metro and tram infrastructure maintenance solutions.Article continues below
The agreement was signed by EIB Vice-President Gelsomina Vigliotti and MERMEC Group Chief Financial Officer Michele Costa on the side-lines of an event in Matera organised by the EIB and Confindustria Puglia e Basilicata to promote EU bank financing opportunities for businesses in the Puglia and Basilicata regions.
The agreement covers initial financing of €20 million of a total of €30 million approved by the EIB, and aims to help Mermec to develop innovative signalling platforms for driverless trains, and advanced solutions for more efficient diagnostics, rolling stock maintenance and railway infrastructure.
The EIB resources will also enable Mermec to develop solutions for the integrated management of railway assets via remote data use.
The new solutions will apply advanced connectivity technologies, cloud computing and artificial intelligence to increase the efficiency of diagnostics and maintenance, as well as improving rail transport safety and sustainability. ■ What to read next
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