The Black Sea Trade & Development Bank (BSTDB) has made available €18mn to Kremikovtzi, the largest steel producer in Bulgaria, for the implementation of the company’s post-privatisation capital investment programme with a total cost of over €400mn.

The BSTDB loan with maturity of seven years will enable Kremikovtzi to upgrade and revamp its manufacturing facilities so as to increase the production of higher value-added products.

This loan from BSTDB will help Kremikovtzi to achieve its plan of making the products of international standards.

Including the Kremikovtzi project, BSTDB’s approved operations in Bulgaria total over US$115mn. They support manufacturing and energy sectors, as well as SME development and foreign trade.