Marcegaglia Secures EIB Loan To Modernize And Decarbonize Steel Plants
Date
12/14/2024 2:10:32 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 14. The European
Investment bank (EIB) has announced 100 million euros in financing
for Marcegaglia, the Mantua-based steel group, to support its 170
million euros investment plan, Trend reports.
The loan agreement was finalized at the company's historic
headquarters in Gazoldo degli Ippoliti, signed by Antonio and Emma
Marcegaglia, heads of the family-owned business, alongside EIB
Vice-President Gelsomina Vigliotti.
The investment plan, set to be completed by 2028, focuses on
digitalization, automation, and decarbonization at Marcegaglia's
plants in Ravenna, Gazoldo degli Ippoliti, and San Giorgio di
Nogaro. Key initiatives include modernizing logistics, introducing
innovative low-carbon technologies for electrical steels, and
upgrading galvanizing lines in Ravenna to reduce emissions. The
financing will also support research and development projects aimed
at improving production processes across the company's
facilities.
EIB Vice-President Gelsomina Vigliotti highlighted the
significance of this operation:“The steel industry is crucial for
the EU's economy and competitiveness, but it also has a high
environmental impact. This financing will enable Marcegaglia to
adopt more sustainable production processes and cutting-edge
technologies, aligning with the EU's climate neutrality objectives
for 2050.”
Antonio and Emma Marcegaglia underscored the importance of the
loan in advancing their sustainability goals.“Our partnership with
the EIB since 2019 has been instrumental in ensuring our plants
remain at the forefront of technology. With this investment plan,
we aim to make our facilities more innovative, energy-efficient,
and environmentally sustainable, placing us among Europe's leaders
in steel production,” they stated.
This financing is part of the EIB's support for REPowerEU
objectives, which aim to accelerate Europe's green transition. The
EIB is offering enhanced terms, including higher initial
disbursements and extended maturities, with co-financing ceilings
of up to 75% for eligible projects. This initiative is part of the
EIB's broader commitment to provide 45 billion euros in additional
financing for REPowerEU by 2027.
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