EBRD lends Eu21.4 mil to Metalfer for low carbon steel production

The European Bank for Reconstruction and Development has given Serbia’s Metalfer Steel Mill a loan of Eur21.4 million ($23.14 million), EBRD said late Jan. 12.

The loan will finance the construction of a new rolling mill for processing scrap metal and semi-finished products, which will improve efficiency and reduce emissions, as well as a new rooftop solar photovoltaic mini-plant, producing up to 4 MW of renewable power to meet production needs, EBRD said.

The higher production will allow Metalfer to meet high demand from the construction industry, domestically and potentially across the region, which has been hit by supply-chain disruptions in recent years, EBRD Director for the Western Balkans Matteo Colangeli said.

Platts, part of S&P Global Commodity Insights, assessed TSI Northwest Europe rebars at Eur762.50/mt ex-works Jan 11, down from Eur1340/mt ex-works reached March 30, 2022.

Metalfer operates a rolling mill and a melt shop with a capacity of 500,000 mt/ year and produces steel billet, rebar and wire rod, using locally sourced scrap metals.

— Cenk Can