Metalloinvest signs new credit facility agreement
Metalloinvest (“the Company”), a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel,
has signed long-term credit facility agreement with CRÉDIT AGRICOLE CIB guaranteed by export credit agency (ECA), provided by Euler Hermes Aktiengesellschaft (Germany).
The 12-year funds of EUR 72 mn will be used to purchase the equipment of TAKRAF GmbH (Germany) for the implementation of investment project at Lebedinsky GOK (part of Metalloinvest) – construction of a cyclical and continuous transportation system for open pit mine.
The project anticipates operational efficiency improvement of open pit development and decrease in production costs of iron ore concentrate.
Disbursement of funds will commence after completion of certain typical conditions precedent.back to news list