The European Investment Bank (EIB) will provide a loan of EUR 60m to Hüttenwerke Krupp Mannesmann GmbH (HKM), a German producer of crude carbon steel. The financing aims at modernising an existing integrated steel plant to improve the environmental performance as well as to reduce energy consumption and CO2 emissions through the installation of new equipment. The financing was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission aim to act as strategic partners to boost the competitiveness of the European economy.

Ambroise Fayolle, Vice-President of the EIB responsible for Germany, commented: “This financing demonstrates EIB´s strong commitment to supporting the development of high added-value projects while improving the environmental footprint at the same time. Europe needs a robust, modern and energy- and CO2-efficient industrial base for its future growth, its preservation of sustainable jobs and its competitiveness on global markets.” And he added: “This is our first transaction with HKM and I am delighted that, with the support of EFSI, the EU bank can help attract further financiers for investments in HKM. This is what the Investment Plan for Europe is all about”.

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "With this loan signed today which has the support of the Investment Plan for Europe, the company will improve its environmental credentials and reduce its carbon footprint. Under EFSI 2.0 which was adopted this week, we will see even more projects in energy efficiency and clean tech with at least 40% of EIB projects contributing to climate action."

Dr. Gerhard Erdmann, Managing Director of Controlling at HKM, states: “The project represents an important milestone for our company’s future and will contribute substantially to the saving of resources and reducing emissions. We are very pleased that we have qualified for EIB financing as a result of our steady efforts in terms of technological development, high product quality and our strong focus on environmental protection.”