HKM STEEL MANUFACTURING MODERNISATION (EIB-20170184)

Countries
  • Germany
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 18, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Huettenwerke Krupp Mannesmann GmbH
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 70.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 60 million
Converted using 2017-10-18 exchange rate.
Loan Amount (USD)
$ 70.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 60 million
Converted using 2017-10-18 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Mar 20, 2018

Disclosed by Bank Aug 9, 2017


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Can you contribute information about this project?
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Project Description

According to EIB website, the project will finance a new hot stove for the existing integrated steel plant's blast furnace A, as well as the integration of a heating station in the steel shop. The project comprises the capital expenditures related to the installation of new key equipment. This will lead to a significant increase in energy efficiency, entail a considerable reduction of CO2 emissions and increase the consumption of secondary instead of primary raw material. Both investments will lead to more efficient iron and steelmaking and will help to strengthen the promoter's competitiveness.

The Bank's services will establish during the due diligence of the project whether a new EIA is required, as well as appraise any other environmental details.

Investment Description
  • European Investment Bank (EIB)
Contact Information

*No contact information provided at the time of disclosure.*

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