The European Investment Bank is granting EUR 350 million loan to Danieli, a global leader in steel plant production based in Italy. The EU bank loan will help to promote the circular economy through the production of recycled steel at the plants of Acciaierie Bertoli Safau in Cargnacco in Udine in Italy and of Acciaierie Bertoli Safau Sisak in Croatia. 65% or EUR 227.5 million of the EIB funds will be allocated to Danieli Group’s Italian plants, while the remaining 35% or EUR 122.5 million will go to its Croatian supply chain. The EIB financing will help Danieli Group achieve climate neutrality by 2050, contributing to the development of innovative technologies for producing steel using electric arc furnaces and minimills. The project also aims to foster the transition to a circular economy by reusing by-products and increasing the recovery of other metals from scrap. In concrete terms, the EIB resources will go towards the design and creation of green plants with three major positive effects: 1. Reducing specific energy use via plant efficiency, making it possible to cut CO2 emissions per tonne of steel produced. 2. Driving the circular economy via the recycling of scrap to produce steel, promoting the responsible management of this type of material and limiting greenhouse gas emissions. The local reuse of scrap prevents it from being exported from Europe to other countries across the world, only for new material to be extracted. 3. Creating new, stable jobs, as well as improving STEM (science, technology, engineering and mathematics) skills. This is the fifth operation signed by the EIB and Danieli in the last 25 years, totalling EUR 580 million.