BAKU, Azerbaijan, December 14. The European Investment Bank (EIB) has announced 100 million euros in financing for Marcegaglia, the Mantua-based steel group, to support its 170 million euros investment plan, Trend reports.
The loan agreement was finalized at the company’s historic headquarters in Gazoldo degli Ippoliti, signed by Antonio and Emma Marcegaglia, heads of the family-owned business, alongside EIB Vice-President Gelsomina Vigliotti.
The investment plan, set to be completed by 2028, focuses on digitalization, automation, and decarbonization at Marcegaglia’s plants in Ravenna, Gazoldo degli Ippoliti, and San Giorgio di Nogaro. Key initiatives include modernizing logistics, introducing innovative low-carbon technologies for electrical steels, and upgrading galvanizing lines in Ravenna to reduce emissions. The financing will also support research and development projects aimed at improving production processes across the company’s facilities.
EIB Vice-President Gelsomina Vigliotti highlighted the significance of this operation: “The steel industry is crucial for the EU’s economy and competitiveness, but it also has a high environmental impact. This financing will enable Marcegaglia to adopt more sustainable production processes and cutting-edge technologies, aligning with the EU’s climate neutrality objectives for 2050.”
Antonio and Emma Marcegaglia underscored the importance of the loan in advancing their sustainability goals. “Our partnership with the EIB since 2019 has been instrumental in ensuring our plants remain at the forefront of technology. With this investment plan, we aim to make our facilities more innovative, energy-efficient, and environmentally sustainable, placing us among Europe’s leaders in steel production,” they stated.
This financing is part of the EIB’s support for REPowerEU objectives, which aim to accelerate Europe’s green transition. The EIB is offering enhanced terms, including higher initial disbursements and extended maturities, with co-financing ceilings of up to 75% for eligible projects. This initiative is part of the EIB’s broader commitment to provide 45 billion euros in additional financing for REPowerEU by 2027.