EIB LENDS FINNISH STEEL FIRM ECU 14.2M FOR ENVIRONMENTALLY-FRIENDLY FURNACE
Europe Environment, December, 1995
The European Investment Bank has granted Imatra Steel, which is part of the industrial group Metra, a loan facility of 80 million Markka (ECU 14.2 million) in the first EIB loan for an industrial project located in Finland. The project consists of the replacement of two electric arc furnaces by a new furnace with a state-of-the-art filtering installation, ensuring that the plant complies with the most stringent European air protection measures.
The project forms part of an investment programme aiming at safeguarding the promoter's competitive market position and the high quality of its products. The EIB has recently financed similar projects in the steel sector in Europe for French Unimetal in Gondrange (1994) and Arbed of Luxembourg in Belval (1995). In 1995, the...
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