By Dominic Chopping

STOCKHOLM--Swedish engineering group Sandvik AB said Wednesday it has signed a 500 million euro ($539.4 million) loan agreement with the European Investment Bank.

The loan will support Sandvik's investments in research and development, which includes advanced solutions in component manufacturing as well as solutions for electrification and automation in mining and infrastructure, it said.

The loan has a seven-year tenor and will support Sandvik's R&D investment plans until 2025.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

January 18, 2023 09:11 ET (14:11 GMT)

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