Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Italy : € 12,000,000
Finland : € 188,000,000
Industry : € 200,000,000
Signature date(s)
21/12/2022 : € 12,000,000
21/12/2022 : € 188,000,000
Link to source

Summary sheet

Release date
6 February 2023
Status
Reference
Signed | 21/12/2022
20220422
Project name
Promoter - financial intermediary
KONE INNOVATIVE PEOPLE FLOW RDI II
KONE OYJ
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200 million
EUR 515 million
Location
Sector(s)
Description
Objectives

The project comprises investments in Research, Development and Innovation (RDI) in the field of elevators, escalators, auto-walks, automatic doors, as well as intelligent technologies and solutions for people flow. Investments are to be carried out primarily in Finland and for the remaining part in Italy over the period 2022-2025.

The project aims at improving the energy efficiency and functional performance of the product range, developing new solutions and new products, as well as leveraging digitalisation and IoT to provide new services and improve customers' experience.

Additionality and Impact

The RDI activities included in the financed project cover a wide range of developments in the fields of elevators, escalators, auto-walks, automatic doors as well as intelligent technologies and solutions for people flow. These RDI activities generate significant positive knowledge, technology and environmental externalities, through the creation of innovative processes, products or services and through skills development and upgrading.


The Promoter's investments address the market failures and gaps associated with projects with positive knowledge, environmental and safety externalities generation.


The project will have important positive knowledge spillovers through R&D cooperation with industrial and academic partners, R&D cooperation with upstream suppliers, and inter-group mobility of highly skilled staff and R&D personnel. The project also contributes to increasing the technological competence and leadership of the European elevator and related sectors.


Positive environmental spillovers through the development and manufacturing of products that help improve the energy efficiency of the buildings where they will find application.


The EIB support to this operation is expected to provide tangible financial benefit, positively contributing to the promoter's RDI investment implementation. The loan's long tenor combined with flexible disbursement and repayment terms, features not to the same extent available from commercial banks or debt capital markets, are well suited for the project's projected cash flows. The loan is expected to provide positive signalling effect to other financiers, thereby facilitating the project's financing and implementation.

Environmental aspects
Procurement

The project consist of RDI activities that are not listed in any of the Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by the Directive 2014/52/EU. The environmental details will be verified during the project appraisal.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.

Milestone
Under appraisal
Approved
Signed
24 November 2022
21 December 2022
Link to source
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - KONE INNOVATIVE PEOPLE FLOW RDI II
Publication Date
8 Mar 2023
Document language
Main Topic
Lending
Document Number
157339200
Document Focus
Environmental Information
Project Number
20220422
Sector(s)
Regions
Countries
Publicly available
Download now

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications