Ukrainian steel works gets EBRD loan

Monday, 31 October 2011 Ukraine's EnergoMashSpetsStal (EMSS) - which produces custom-made parts for wind and nuclear power generation units, the steel industry and shipbuilding - is to receive a $79 million loan from the European Bank for Reconstruction & Development (EBRD) to modernize its entire production complex. By upgrading its production facilities and processes, according to the EBRD, EMSS will "significantly improve its operational efficiency and competitiveness, as well as reduce its energy consumption per production unit by nearly 25%." EMSS produces castings and forgings in special steel grades for the nuclear power industry. In 2010, Russian state atomic energy corporation Rosatom acquired a controlling stake in EMSS, which subsequently became a division of its Atomenergomash subsidiary.