EIB’s €75 mln loan to Elval

EIB’s €75 mln loan to Elval

The European Investment Bank has agreed to provide a 75-million-euro 10-year loan to Elval, ElvalHalcor’s aluminium rolling division, financing 50% of its new investment.

The first phase of ElvalHalcor’s five-year investment program to gradually increase overall production capacity of flat-rolled aluminium to more than 500,000 tons per year was completed in 2020, with the installation of a four-stand tandem hot-rolling finishing mill in the Elval plant at Oinofyta.

The new investment concerns the implementation of the second phase of the investment program with an additional €150 million in order to achieve increased production capacity targets in response to growing market demand for rigid packaging and other aluminium products, driven by global mega-trends.

The cooperation between the EIB and Elval was announced in Athens on Wednesday, during a ceremony for the signing of the loan agreement by EIB President Werner Hoyer and Michael Stassinopoulos, chairman of ElvalHalcor’s Board of Directors.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.