ANNOUNCEMENT 17 Jun 2019

In June 2019, the European Investment Bank (EIB) signed a loan agreement with KONE Oyj to support its research and development investments related to the production of elevators, escalators and other People Flow Intelligence goods.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, KONE INNOVATIVE PEOPLE FLOW RDI: https://www.eib.org/en/projects/loans/all/20180259
The European Investment Bank, Project Summary, KONE INNOVATIVE PEOPLE FLOW RDI: https://www.eib.org/en/projects/pipelines/all/20180259
KONE Oyj: https://www.kone.com/en/company/

Inception date: 17 Jun 2019 | Removal date: open ended

State loan

On 17 June 2019, the European Investment Bank (EIB) and KONE Oyj signed a loan agreement having a total value of EUR 200 million (approx. USD 224.5 million). The loan will support the company's research and development investments related to the production of elevators, escalators and other People Flow Intelligence goods. The aim of these investments is to better the safety, comfort, the environmental performance and visual design of the subject goods. The investments will be carried out in Finland and Italy. 

KONE Oyj is headquartered in Finland and is a manufacturer of elevators, escalators and other People Flow Intelligence goods. The company operates in over 60 countries worldwide.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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