The European Bank for Reconstruction and Development (EBRD) has provided a loan of €21.4 million to Metalfer Still Mill d.o.o., Serbia’s leading manufacturer of concrete reinforcement steel.
The loan will finance the construction of a new rolling mill for processing scrap metal and semi-finished products, which will improve efficiency and reduce emissions, as well as a new rooftop solar photovoltaic (PV) mini-plant, producing up to 4 MW of renewable power to meet production needs.
“Manufacturing is one of the sectors where reducing the use of energy and resources is most challenging, so we are happy to support two aspects of the low-carbon transition in this project: energy efficiency plus renewables”, said Matteo Colangeli, EBRD Director for the Western Balkans. “Moreover, increasing production will allow Metalfer to meet high demand from the construction industry, both domestically and potentially across the region, which has been hit by supply-chain disruptions in recent years.”
Established in Serbia in 2005, Metalfer Steel Mill d.o.o. has become a major manufacturer of products such as steel billet, rebar and wire rod, using locally sourced scrap metal. The company operates a rolling mill and a foundry and supplies its products mainly to the local construction industry.
The loan to Metalfer Still Mill will increase the EBRD’s total commitment to Serbia to nearly €8 billion.
In 2022 alone, the EBRD invested €648 million in the Serbian economy.