Italian credit institution Banco BPM, with the support of SACE - the state-owned financial and insurance group under the Ministry of Economy and Finance - has granted €21 million in financing to Duferco Travi e Profilati, the steel division of Duferco Group. The funds will support the redevelopment and development plan for the Giammoro industrial hub in Sicily. The 10-year loan is 70 percent guaranteed by the SACE Growth Fund and is part of a broader €95 million investment program launched by the group in the industrial area between Milazzo and Messina.
The project involves the enhancement of the multi-purpose container terminal operated by Duferco Terminal Mediterraneo, the development of a peaker power plant already in operation and serving the regional electricity grid, and the creation of a Hydrogen Valley. The goal is to turn Giammoro into an advanced center for sustainable energy and integrated logistics.
As previously reported by SteelOrbis, the Hydrogen Valley initiative, led by Duferco in partnership with Caronte and Nippon Gases Italia, was selected under the “Hydrogen Valleys” call of Italy’s National Recovery and Resilience Plan (PNRR). The project entails a €10 million investment, €7.5 million of which is financed by the Sicilian regional government. The plant will include a 4 MW photovoltaic field and a 1 MW electrolyzer, with an estimated production capacity of around 100 metric tons of green hydrogen per year, aimed at meeting the energy needs of local businesses.
The initiative aligns with Duferco Group’s strategy to revitalize decommissioned or underutilized industrial areas by integrating logistics infrastructure, renewable energy sources, and low-emission production processes. According to Antonio Gozzi, president of Duferco Group, “the industrial conversion plan for the Giammoro site is a strategic project based on three key pillars: energy, logistics, and services related to infrastructure investments.”
In addition to its environmental benefits, the project will have significant employment and social impacts. Duferco has already launched a workforce retraining and reintegration program for former employees of the previous steelmaking facility, in line with the gradual expansion of production activities.
For Banco BPM, as highlighted by Corrado Nangeroni, Head of Large Corporate, the operation represents an investment in a strategic sector such as infrastructure, “for the benefit of both the local and national economy.” SACE, through spokesperson Simona Casaroli, reaffirmed its commitment to supporting the sustainable growth of Italian companies by backing high-innovation investments capable of generating long-term value.