EBRD provides EUR 20mn loan to Croatian steel mill ABS Sisak.

By bne IntelliNews March 19, 2013
The EBRD said it is providing a EUR 20mn loan to Croatian steel mill ABS Sisak, owned by Italys Danieli. The financial resources will be used for the companys restructuring and modernisation programme, the EBRD said in a statement. The programme includes the restoration of the plants capacity to fully integrate the operations in Sisak into the production chain of the parent company. The plant would produce semi-finished steel products, which to be transported to leading supplier of steel for the automotive and power sectors ABSs main facilities located in Udine, Northern Italy, or to German markets. ABS is subsidiary of the Danieli group. The investment programme in ABS Sisak will result in significant environmental, energy and resource efficiencies, the EBRD Director for Croatia and Hungary, Zsuzsanna Hargitai, was quoted as saying. The EBRD was active in the country, providing more than EUR 2.5bn financial resources for about 140 projects. The bank provides financing for all sectors in the country, especially for infrastructure, corporate, financial institutions and energy.

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