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Alro Slatina receives USD 25 million in funding for sustainable alumina refining equipment

Metal News - Published on Wed, 17 Oct 2018

Image Source: Aluminium Insider
Romanian aluminium company Alro SA’s alumina-refining operation Alum Tulcea announced last week the receipt of a USD 25 million finance agreement with Black Sea Trade and Development Bank and Garanti Bank Romania to invest in shrinking the company’s carbon footprint. BSTDB is footing the lion’s share of the financing with a contribution of USD 20 million, while Garanti Bank pitches in the remaining USD 5 million.

Mr Gheorghe Dobra CEO of Alum Tulcea, said that the financing represents a significant leap forward in the company’s journey to boost its energy efficiency and environmental responsibility. He said that “Alum has implemented in the last years an extensive investment program aimed at increasing its energy and processes efficiency while complying with the environmental regulations in place. This new financing obtained from reliable business partners such as Garanti Bank and BSTDB represents a new step forward for continuing our long-term investment program, focused on technology upgrading, products portfolio’s diversification, development of new value-added products and safety and environmental protection projects.”

This latest financing deal is the most significant financial contribution to Alum Tulcea’s efficiency and sustainability efforts to date. Between 2009 and 2016 the company invested USD 28 million in projects to modernize equipment and bring the firm into compliance with Europe’s environmental standards.

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Posted By : Rabi Wangkhem on Wed, 17 Oct 2018
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