Duferco Travi e Profilati, the Italian long steel producer of the Duferco group, has received a loan of €72 million ($86.5 million) from two banks to build a new sustainable steel plant in Brescia, Italy.
This follows Duferco’s recent announcement that it was to partner with equipment provider SMS group for the new green beam mill which will help it decarbonize its production process.
The new plant should go into production by 2021-end, will increase production capacity by 650,000 tonnes and will be built according to the most advanced environmental standards in terms of energy.
The mill will have cutting edge technologies, focusing on digitization, artificial intelligence and automation both for production and logistics.
The total investment, facility and infrastructure included, will amount to €180 million ($215 million) and bring the whole rolling mill capacity of the group to 1.5 million.