11 FEBRUARY 2016AlCircle.com
Romania's Alro Slatina borrows USD 60 mln to fund investments this year
Edited by : AL CIRCLE
1 min read
Alro Slatina, one of Romania's biggest aluminium producers has inked an agreement with the Black Sea Trade and Development Bank to borrow a sum of USD 60 million. The primary aluminium maker will use the funds to carry out investments this year, the company announced.
The loan has a seven-year maturity and will be repaid in equal half-yearly installments, disclosed company sources. Alro's investment plans this year include increasing operational efficiency while reducing energy dependency.
The Black Sea Trade and Development Bank is a development bank that serves the eleven countries that are members of the Organization of the Black Sea Economic Cooperation. It includes Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.
Alro is part of the Vimetco group, controlled by Russian investor Vitaliy Machitski.
The loan has a seven-year maturity and will be repaid in equal half-yearly installments, disclosed company sources. Alro's investment plans this year include increasing operational efficiency while reducing energy dependency.
The Black Sea Trade and Development Bank is a development bank that serves the eleven countries that are members of the Organization of the Black Sea Economic Cooperation. It includes Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.
Alro is part of the Vimetco group, controlled by Russian investor Vitaliy Machitski.
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