Alstom and Cesce, the Spanish Export Credit Agency, have signed a strategic agreement to promote rail industry exports in green projects. The agreement also seeks to strengthen and consolidate the Spanish railway industry, in which Alstom is a key player with more than 3,000 employees in Spain and with a local procurement volume of nearly EUR 700 million in the last fiscal year.
The alliance was signed Fernando Salazar, Executive Chairman of Cesce, Leopoldo Maestu, Managing Director of Alstom in Spain and Portugal and Anneli Carlot, Alstom Vice President Treasury and Financing, in the presence of Elisabeth Richard, Alstom Project and Export Finance Director.
The agreement will allow Alstom to structure the financing of its foreign operations in a more flexible way in terms of purchasing decisions and supplier designation. The agreement provides for an overall annual maximum of EUR 500 million and will be reviewed on a yearly basis, depending on the evolution of employment levels, investment and exports of Alstom Group companies in Spain.
Agreement scope focuses on green operations, in line with Cesce’s climate change policy, the importance of promoting sustainable mobility initiatives and the need to boost digitalisation and sector transformation for a decarbonised future.
To develop and promote rail industry exports in Europe, Alstom also signed an agreement with SACE, the Italian Export Credit Agency to boost Alstom’s exports from Italy. Alstom owns 10 sites throughout Italy and with more than 3,500 employees and has two centres of excellence in high-speed trains.
The French company also signed an export agreement in Poland with KUKE which will facilitate contract executions and securing financing for buyers. The agreement is expected to have a value of EUR 1 billion. On Polish rail market, Alstom is the largest producer and employs over 4000 people at 11 sites including the Pafawag plant in Wrocław, Konstal in Chorzów and ZWUS in Katowice. Recently, the company has opened an aluminum welding line at Wroclaw site investing EUR 10 million.
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