Romanian aluminium producer Alro secured $40mn corporate loan from the Black Sea Trade and Development Bank (BSTDB) to increase production capacity.
Alro’s project primarily includes improving its energy management performance and high-value added production capacity, as stated in the press release of BSTDB. The project costs about $95mn which will be funded by Romanian and international commercial banks.
BSTDB says that Romania’s economic outlook is positive and is enthused to see Alro steeping into energy efficient measures and environmentally sustainable procedures. Aluminium demand is expected to increase in Romania and the company is not only capable of meeting this demand, but also promote exports and increase revenues.
Alro’s aluminium facilities are primarily in Slatina and comprises a smelter and processing facilities including a cast house, hot and cold rolling mills, an eco recycling facility and, an extrusion shop.