BSTDB supports development of the largest steel producer in Albania
Press Release | 19-Jun-2011
Today, BSTDB signed its second € 20 million loan agreement with Kürüm International Albania, the largest steel producer in the country.
This medium-term BSTDB financing will assist Kürüm International, a member of Kürüm Group (Türkiye), to increase further its production output, while meeting the national and EU environmental, health and safety standards. BSTDB’s first loan supported the company’s investment program for modernization and maintenance of its production facilities in Albania.
“The Bank’s continued support to the development and modernization of Kürüm International will contribute to economic growth, employment and expansion of export capacity in Albania. Furthermore, the operation has an important regional integration impact, reflecting the priority we attach to promoting cooperation between our member countries, in this case Türkiye and Albania”, stated Andrey Kondakov, BSTDB President in Tirana.
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Kürüm International Ltd. Albania was established in 1999 to expand the activities of Kürüm Group (Türkiye) in Albania. Kürüm International is the largest steel producer in Albania with 70% of the country's market share, manufacturing and selling a variety of hot-rolled construction iron products to clients in Albania, the EU and the Balkans. The company is also involved in the production of liquid oxygen, lime and in boat construction and dockyard repair.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (EUR 3.3 billion). BSTDB is rated long term A3 by Moody’s and A by Standard & Poor’s.
Press Contact
Haroula Christodoulou
Tel: +30 2310 290533
Email: cchristodoulou@bstdb.org