Metinvest, an international vertically integrated group of steel and mining companies, attracted a line of credit in the amount of 9.8 million Euro for the financing of the Mariupol metallurgical Ilyich iron and steel works (MMK im. Of Ilyich). Coating line of credit is due to the Austrian export guarantees issued by export credit Agency (ECA) Osterreichische Kontrollbank Aktiengesellschaft (OeKB). A single creditor is the Bank Raiffeisen Bank International.
the Interest rate on the credit line, the repayment period which begins in April 2029, is set at six-month EURIBOR rate plus a margin. The funds will be used to Finance the purchase and installation of hydraulic coiler at the hot rolling mill 1700 at MMK im. Ilyich supplier which will deliver the world's leading manufacturer of solutions for metallurgy Primetals Technologies Austria.
New hydraulic winder is the next stage of reconstruction of hot rolling mill 1700 at MMK im. Ilyich. The product range will be expanded by increasing the maximum weight of hot-rolled coil from the current 27 tons up to 32 tons while improving such quality parameters as basically a telescoping and the winding density of the roll. It is expected that the total investment in the project will amount to 18 million USD.
