NLMK, Sogepa to invest 200 mln euros in NLMK Belgium Holdings - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

NLMK, Sogepa to invest 200 mln euros in NLMK Belgium Holdings

MOSCOW, Oct 10 (PRIME) -- Russian steelmaker Novolipetsk Steel (NLMK) and Belgian fund Sogepa plan to invest 100 million euros each in the development of NLMK Belgium Holdings (NBH), in which they own a 49% stake each, between 2019 and 2021, NLMK said in a statement on Thursday.

УFunds allocated to NBH will go towards the execution of Strategy 2022 investment projects, aimed at boosting the production capacity of niche products in both European Divisions,Ф NLMK said.

The companies agreed on joint parity guarantees for banking financing of NBH.

The agreement provides Sogepa with an option to purchase 24% in NBH from NLMK in 2023.

End

10.10.2019 10:25
 
 
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