EBRD loans €75 million to Erdemir to promote energy efficiency

Thursday, 21 January 2016 15:38:09 (GMT+3)   |   Istanbul
       

The European Bank for Reconstruction and Development (EBRD) has announced that it is promoting the efficiency in Turkey’s steel industry with a €75 million loan to the steelmakers Erdemir and Isdemir, both part of Turkish integrated steelmaker Erdemir Group.
 
The loan will finance a comprehensive investment program that will help the companies make the most effective use of resources in manufacturing processes at their two plants, in Ereğli on the Black Sea coast and in Iskenderun on the eastern Mediterranean coast. Accordingly, Erdemir and Isdemir will invest in blast furnace top-pressure recovery turbines, a state-of-the-art technology which uses high-pressure gases collected at blast furnaces to generate electricity. They also plan to upgrade energy management systems and extract valuable by-products from industrial waste.
 
EBRD director Jean-Patrick Marquet stated that the bank is currently working with the Turkish Ministry of Energy and Natural Resources to devise a national energy efficiency action plan for Turkey to develop energy efficiency policies for the steel sector.

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