ALRO Secures Loan from Black Sea Trade & Development Bank
Slatina Romania based ALRO SA announced that the Black Sea Trade and Development Bank is providing a USD 40 million corporate loan to the Company, 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.
The agreement marks a new phase in BSTDB’s partnership with ALRO which started in 2015. Since then, the Bank has provided a total of USD 120 million in support of the Group’s development.