EIB invests €30m in MERMEC’s Railway Digital Transformation in Italy
In a strategic move to bolster Italy’s rail infrastructure modernization, the European Investment Bank (EIB) has committed €30 million to fortify the research, development, and innovation endeavors of MERMEC Group.
Based in the picturesque town of Monopoli, this Italian multinational stands at the forefront of integrated diagnostics, signaling, and comprehensive railway, metro, and tram infrastructure maintenance solutions.
The accord, sealed amidst the vibrant ambience of an event in Matera, orchestrated jointly by the EIB and Confindustria Puglia e Basilicata, marks a watershed moment for the regions of Puglia and Basilicata. It heralds an opportunity for local enterprises to access the financial resources of the EU bank.
The pact unveiled today encompasses an initial disbursement of €20 million, forming part of the €30 million sanctioned by the EIB. This significant capital infusion serves a twofold purpose. Firstly, it positions MERMEC to spearhead the development of pioneering signaling platforms tailored for autonomous trains. Secondly, it empowers the company to craft advanced solutions designed to optimize diagnostics, enhance rolling stock maintenance, and elevate railway infrastructure.
A transformative facet of this collaboration involves the harnessing of remote data utilization for the holistic management of railway assets. By capitalizing on cutting-edge connectivity technologies, cloud computing, and the prowess of artificial intelligence, this partnership is primed to enhance the efficiency of diagnostic and maintenance procedures. Moreover, it aspires to revolutionize rail transport, augmenting its safety and sustainability quotient.
These ambitious research, development, and innovation initiatives are slated to unfurl in Italy between 2023 and 2025. The journey ahead holds the promise of not just revitalizing Italy’s rail system but also positioning it as a global exemplar of digital transformation in the transportation sector.
EIB Vice-President Gelsomina Vigliotti, said: “EIB financing will enable MERMEC to develop innovative high-tech solutions to improve rail system reliability, safety and efficiency.”
MERMEC Group Chief Financial Officer Michele Costa, added: “This operation 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. 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.”
