Luxembourg-headquartered global stainless steel producer Aperam SA has announced a new €120 million loan backed by Gigarant NV, a special support facility of the Flemish government managed by its investment company PMV. The financial guarantee supports Aperam’s ongoing modernization at its Genk facility, ensuring its continued contribution to Flanders’ industrial strength and green transition goals.
Strengthening Aperam Genk’s sustainable growth
The new financing was arranged through a consortium of banks consisting of ING, KBC and Belfius, with Gigarant providing a state-backed guarantee to reduce risk and the cost of capital. According to Frederico Ayres Lima, CEO of Aperam Stainless and Services & Solutions Europe, the partnership “empowers Aperam Genk to pursue investments in industrial innovation and the green energy transition”.
Between 2018 and 2024, Aperam invested more than €350 million in its Genk site to modernize production lines, improve safety standards, accelerate digitalization and drive sustainable process innovation.
Renewable energy commitments
In a further push toward decarbonization, Aperam has signed a power purchase agreement with LRM, a Belgian venture capital firm, to source renewable electricity from the Kristal Solar Park in Limburg. This agreement complements Aperam’s existing on-site solar installations at both its Genk and Châtelet plants, enhancing the company’s renewable energy footprint.
