EIB Grants Wärtsilä R&D Loan

Monday, November 10, 2003
The European Investment Bank (EIB) has granted Wärtsilä a research and development loan of EUR 100 million. Wärtsilä will use the loan to develop the competiveness and environmental performance of the engines. The goal is to reduce running costs and to ensure sustainable development throughout the life cycle of the engines. The European Investment Bank funds research and development that supports the long-term competitiveness of businesses in the EU. "The EIB loan is of major importance in developing our business. In an environment where increased price competition challenges production in Europe it emphasizes the importance and capabilities of European R&D," said Mr Ole Johansson, President & CEO of Wärtsilä. Mr. Sauli Niinistö, EIB Vice-President, said: "The EIB is pleased to be supporting a project which, in terms of its environmental benefits and innovative aspects, fits in so well with two of the Bank's key policy objectives of innovation and environmental protection. This is also the first industrial R&D facility in Finland for the EIB."
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1055 sec (9 req/sec)