Peru-based steel producer Siderperu, a subsidiary of the Brazilian group Gerdau, has received a green loan of $4 million from the Banco de Crédito del Perú, according to local news reports.
Accordingly, the company will use the loan to purchase scrap metal and manufacture construction bars. This process will also contribute to developing a circular economy, strengthening the value chain, and promoting sustainability.
“At Siderperu, sustainability is part of our DNA. Recycling is the heart of our business and, therefore, we give a second life to more than 400,000 mt of scrap per year, which return to society as quality steel,” Siderperu CFO Raúl Ugarte stated.