Sandvik signs €500m loan to advance mining technology
By Catrin Jones19 January 2023
Sandvik has signed a €500 million loan agreement with the European Investment Bank (EIB). The loan is said to support the Sweden-based company’s investments in research and development (R&D), which include advanced solutions in component manufacturing as well as solutions for electrification and automation in mining and infrastructure.
Stefan Widing, President and CEO of Sandvik, said, “We have a strong strategic focus on developing solutions that improve sustainability, productivity and safety in our core industries of mining, component manufacturing and infrastructure. The EIB cooperation will support our R&D initiatives and our aim to stay at the forefront and develop our technology leadership.”
The loan has a seven-year tenor and has hopes to support Sandvik’s R&D investment plans until 2025.