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Indra Group. Credit: Joana Stock, Shutterstock
Spain’s Indra Group has signed a €385 million loan agreement with the European Investment Bank (EIB) to boost its investments in space and defence technologies, marking the largest EIB defence-related financing deal in Spain to date.
The agreement announced on July 15 will fund projects related to radar, electronic war, electro-optics and command and control systems. It also supports digital innovation. It also supports a new technology center near Madrid with advanced manufacturing and laboratories tailored to the defence sector and space.
Robert de Groot, Vice-President of the EIB (http://www.eib.org/) said: “This agreement is about turning ideas into capabilities in Europe’s defence & space ecosystem.”Satellite Today).
He said that the space played a “critical” role in European security and that Indra’s new hub would help Europe “act with greater autonomy in a rapidly changing world.”
The agreement is in line with EU efforts to increase defence investment. Eutelsat is backed by France and the UK, while other countries expand space infrastructure and Earth observation satellites.
The loan is valued at €385 million, or approximately $447 million.
Can this increasing focus on EU defense tech help Europe gain independence from the US and China in terms of strategic security?
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