The Black Sea Trade and Development Bank (BSTDB) has provided a USD 40 mln corporate loan to Romanian aluminium producer ALRO, part of Vimetco Group, for its capital investment program.

The seven-year loan will be used primarily for improving the company’s energy management performance as well as high value-added production capacity.

The project’s total cost amounts to around USD 95 million to be also financed by Romanian and international commercial banks.

Since 2005, BSTDB provided a total of USD 120 mln financing in support of Alro group’s development.

Alro is one of the largest vertically integrated aluminium producers in Europe, having an installed annual production capacity of 265,000 tonnes of electrolytic aluminium, 35,000 tonnes of recycled aluminium and 335,000 tonnes of cast aluminium.

(Photo courtesy of the company)

andrei@romania-insider.com