EBRD to invest €25m Kosovo nickel producer
PRISTINA – The European Bank for Reconstruction and Development said it will provide €25-million to Kosovo's sole ferro-nickel producer Newco Ferronikeli to improve environmental standards and energy efficiency.
The company which is the largest of Kosovo's exporters was bought by Albania's Balfin Group last year in what was seen as a rescue deal aimed to restore production which was halted when the heavily indebted company ran into financial difficulties.
Ferronikeli has changed hands several times since it was privatised in 2005 and now it employs 800 workers and a further 1 000 contractors.
"The EBRD finance will help reduce energy costs and improve the quality of production, which should enable Ferronikeli to become a competitive exporter," Eric Rasmussen, EBRD Director for Natural Resources said in a statement.
Kosovo, with 1.8-million people, remains one of the poorest in Europe where one-third of its workforce is unemployed.
Non-governmental organisations and state agencies have in the past years told the nickel factory to reduce pollution.
EBRD said the investment in higher environmental standards and energy efficiency will lower the company's greenhouse gas emissions by an expected 38 615 tonnes of CO2 per year.
The lender said it has invested €395-million in Kosovo since 2012.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation