EIB lending 350 mln euro to Danieli to fund recycled steel making in Italy, Croatia

The loan will help to promote the circular economy through the production of recycled steel at the plants of Acciaierie Bertoli Safau in Cargnacco, Italy, and Acciaierie Bertoli Safau Sisak in Croatia, EIB and Danieli said in a joint press release.

Some 65% of the EIB loan, or 227.5 million euro, will be allocated to Danieli’s Italian plants, while the remaining 122.5 million euro will go to the plants in Sisak, central Croatia. The EIB financing will help Danieli Group achieve climate neutrality by 2050, contributing to the development of innovative technologies for producing steel using electric arc furnaces (EAFs) and mini-mills.

The development of innovative and advanced manufacturing technologies (AMT), and the reuse of by-products and other metals will help Danieli reduce its environmental impact considerably and create new jobs in both Italy and Croatia. The EU bank estimates that 250 jobs will be created during the implementation of the project.

Danieli Group is listed on the Milan Stock Exchange. It employs some 9,000 people in more than 50 companies worldwide and manufactures and installs innovative machines and plants for the steel industry, the non-ferrous metals sector and for energy production.

Acciaierie Bertoli Safau (ABS), the steelmaking division of the Danieli Group, bought the production facilities of Croatian steel maker Zeljezara Sisak from US company CMC in 2012 and after a break due to the unfavourable market trend during the period 2015-16, restarted production at the end of 2017, according to information from the ABS website.

($ = 0.942 euro)