The European Bank for Reconstruction and Development (EBRD) approved a loan of 21.4 million euros to the producer of steel for concrete reinforcement Metalfer Steel Mill from Sremska Mitrovica, it was announced today.
The loan will finance equipment whose purpose is to improve energy efficiency and reduce gas emissions, as well as a new solar photovoltaic mini-power plant with a capacity of up to four megawatts for its own production needs.
The director of the EBRD for the Western Balkans, Matteo Colangeli, said that the increase in production will allow this company to meet the demand of the construction industry, both on the domestic market and in the region, “which has been affected by changes in the supply chain lately”, reports Beta.
“Given the fact that the metal industry is one of the sectors where the improvement of energy efficiency and resource utilization is the most challenging, we are happy to support two green aspects of the transition of this project: energy efficiency and increasing the capacity of renewable energy sources,” said Colanelli.
Metalfer Steel Mill was founded in Serbia in 2005 and over time became the leading regional producer of steel beams, rebars and wire rods, using scrap metal as the primary raw material.
The company has a rolling mill and foundry and mainly supplies the local construction industry.
The loan will increase the total exposure of the EBRD in Serbia to almost eight billion euros , and in 2022 alone, the EBRD invested 648 million euros in the Serbian economy, Biznis reports.