Italian re-roller and steelmaker Marcegaglia is set to expedite the decarbonisation process at its facilities located in northern Italy, specifically in Ravenna, Gazoldo degli Ippoliti, and San Giorgio di Nogaro.
The firm has secured €100 million ($104.7m) from the European Investment Bank (EIB) to fund a range of initiatives focused on energy efficiency, innovation, and automation, with completion anticipated by 2028, Kallanish learns from the company.
The EIB grant is included in the group’s €170m decarbonisation strategy and aims to enhance the digitalisation and automation of logistics at Ravenna and Gazoldo degli Ippoliti. Marcegaglia plans to decarbonise the galvanising line in Ravenna and to advance the development of innovative, low-carbon, and energy-efficient technologies for electrical steels.
Funding will also be allocated for research, development, and innovation initiatives, especially those related to production processes at the three sites.
“The financing announced today will help Marcegaglia embark on a transformational journey, enabling the group to adopt more sustainable industrial processes and cutting-edge technologies to improve its environmental footprint, increase safety at work and reduce costs … For projects such as these, the EIB can offer higher initial disbursements and longer maturities to make loans even more attractive to the energy sector, and also increase the co-financing ceiling to 75%,” the firm says in a note.
Antonio and Emma Marcegaglia assert these projects will contribute to a further reduction in the company’s environmental impact while enhancing the technology employed. The EIB financing will cover over 50% of the total project expenditure.
In June, Marcegaglia took over Ascometal’s Fos-sur-Mer in France. The plant, renamed Marcegaglia Fos-sur-Mer, will produce hot rolled coil. The group will retain the electric arc furnace-based unit’s entire workforce and will invest about €600 million in its revamping.
Natalia Capra France
