Valdis Dombrovskis, European Commission Vice-President for the Euro and Social Dialogue, today visited the innovative projects being developed at Spanish company Talgo's Madrid plant with Investment Plan for Europe support from the European Investment Bank (EIB). Vice-President Dombrovskis was joined by representatives from the EIB, which signed a €30 million loan with Talgo in December 2017 as part of the Investment Plan for Europe, the Juncker Plan. This loan will fund improvements to high-speed and suburban train technology and a new prototype for the short and medium-distance electric trains segment. The EIB is financing this project to facilitate the investment needed to improve the safety, comfort and energy efficiency of this mode of transport.
“For the past three years, the Investment Plan for Europe has helped support innovative projects across the EU. Talgo's research and development project is a good example of what the EU budget guarantee has been supporting. By investing in developing state-of-the-art technology, Talgo is able to improve the services offered to train passengers in Spain, making a tangible difference to the daily commute, as well as for travellers on longer journeys. The project also means jobs are supported across the entire supply chain. Under our new InvestEU Programme, innovative projects such as this one will continue to be supported by the EU in the next financing period,” said Dombrovskis.
The EU financing will enable Talgo to offer new products, accelerate its overseas expansion and create new jobs. Talgo Executive Chairman Carlos Palacio commented: “Innovation lies at the very heart of Talgo's history, and is receiving a boost from the financing of these projects. The company is considered a technological leader for its ability to design and manufacture products that adapt to and anticipate industry requirements. Its innovations are enabling Talgo to play a part in defining the future of rail transport worldwide.”
The Investment Plan for Europe in Spain
Since the plan's launch in 2015, the EIB has approved 82 operations in Spain alone, providing financing of €6.3bn to mobilise around €35bn in additional investment. The Investment Plan for Europe is enabling the EIB to ensure that a diverse range of sectors can access competitive long-term financing for their investments.
Head of Office for the EIB in Spain, Alberto Barragán, said: “Support from the EU bank under the Investment Plan for Europe is making it possible to guarantee the competitiveness of Spanish companies, granting them financing with very favourable interest rates and maturity periods to enable them invest in innovation. Spain has been one of the top beneficiaries of EIB Juncker Plan financing since the initiative was launched.”
EU commitment to innovation in Spain
Talgo joins other Spanish companies such as engineering firm Batz, pharmaceutical company Laboratorios Farmaceúticos Rovi, and technology multinational SENER in receiving Juncker Plan loans for innovation.
As well as supporting economic growth in Spain's strategic sectors, the EU assistance also aims to combat climate change and develop energy efficiency.
From Luxembourg to Spain: how EIB loans work
The European Investment Bank (ElB) is the long-term lending institution of the European Union owned by its Member States, with its headquarters in Luxembourg. It makes long-term finance available for sound investment in order to contribute towards EU policy objectives.
The European Fund for Strategic Investments (EFSI) is a pillar of the Juncker Plan and provides first loss guarantees, enabling the EIB to invest in more projects that often come with greater risks.
EFSI has already yielded tangible results. Projects with total financing of €57.5bn have been approved to date across the EU. They are expected to mobilise more than €287bn in investment and support around 635 000 SMEs in 28 Member States.
The Juncker Plan is one of the European Commission's main priorities. It focuses on boosting investment to generate jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment, and providing visibility and technical assistance to investment projects.
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Take part in our photography contest “Talgo Trains,” and you could win a range of prizes and visit our factory.
Photography contest “Talgo Trains”
II EDITION PHOTOGRAPHY CONTEST "TALGO TRAINS"
Once again, Talgo announces the opening of the annual “Talgo trains” photograph contest. This year´s novelty is that you can send us both: photos and videos!
Participants can share their photograhs/videos of Talgo trains operating around the world by filling in the registration form below.
Participate and win prizes up to 1000€ and a visit to our factory!
The deadline for submitting your photos/videos is May, 31st, 2017
For any questions related to the contest, please, email us at: firstname.lastname@example.org
Prize: 1000€ | Video contest: 500€ | Another two prizes of 250€ each will be distributed among both photograph and video categories.Rules of the contest
Fill in your personal information in this application form. Upon completion you will be provided access to the photos/videos uploading area. To log in enter your name, surname and email address and send us as may photos/videos as you want.
From January 24th, 2016 at 00.00 to May 31st, 2017 at 23.59 (Spanish time) any person can participate in the contest by sending us photographs/videos of Talgo trains.
If you are younger than 18 years old, contact us at: email@example.com , and we will inform you on the participation conditions.