The European Bank for Reconstruction and Development (EBRD), with a €10m loan, is supporting the modernisation of Interglass, the biggest industrial manufacturer in the Kyrgyz Republic.
Interglass, which is owned by the German company Steinert Industries, produces around 10m square meters of glass annually.
According to an EBRD statement, the funds will be used to upgrade the plant’s equipment and improve its energy efficiency. The project will help Interglass to raise its capacity by over a third, to 600 tonnes per day while significantly reducing the production costs. The upgrade works will double the service life of the plant’s main furnace to up to 12 years.
Steinert Industries will co-fund the project with €3.8m in equity investment.
FinSMEs
21/09/2009