Italy's Arvedi to receive finance from EIB under Juncker Plan

Thursday, 23 April 2015 09:51:40 (GMT+3)   |   Brescia
       

Cremona-based Italian steelmaker Arvedi Group is about to become the first Italian company being financed by the European Investment Bank (EIB) under the investment plan proposed by European Commission president Jean-Claude Juncker. In the first tranche of projects examined yesterday in Luxembourg by the board of the EIB, the financing of Arvedi was also included, as reported by Italian business newspaper Milano Finanza.
 
On March 5, Arvedi, having prepared a €190 million investment plan for the 2014-2018 period, asked the EIB for a loan of €90 million.
 
The investment plan foresees the modernization of some plants - with the introduction of new production processes - as well as the introduction of new products and research and development (R&D) activities in steel products during the period 2014-2018. In particular, the project comprises investments in two of Arvedi's northern Italian production sites. Since last October, Arvedi has owned Trieste-based Ferriera di Servola.
 
The first strand of the Juncker Plan aims to mobilize €315 billion in additional investments in the European Union over the next three years, i.e., in addition to the usual activities of the European Investment Bank and member states. The goal is to rectify a severe shortfall in investment in the European Union since the start of the financial crisis.

Similar articles

Italy’s Arvedi Group to sell Turkish business to Sarıtaş Çelik

30 Nov | Steel News

Italy’s Arvedi-AST produces the world’s biggest steel cylinder

16 Nov | Steel News

Acciaieria Arvedi commissions new scrap processing plant from Danieli

12 Sep | Steel News

Arvedi and Mercedes-Benz AG ink deal for supply of green steel

03 Jul | Steel News

Local and import HRC prices in EU keep climbing due to energy issue

07 Sep | Flats and Slab

Acciaieria Arvedi becomes world’s first steel mill with net-zero emissions

13 Jul | Steel News

Italy's Arvedi Group plans €1 billion investment in Acciai Speciali Terni

04 Apr | Steel News

EU will decide on Acciai Speciali Terni's sale to Arvedi by Dec 22

19 Nov | Steel News

ThyssenKrupp sells Italian stainless unit Acciai Speciali Terni to Arvedi Group

16 Sep | Steel News

Arvedi invests further in Trieste to build second galvanizing line

08 Jun | Steel News