Project Description
The proposed project is to refurbish and modernize an existing Bulgarian steel mini-mill, Stomana Industry, which processes scrap. Stomana’s current production is about 600,000 tpy of flat and long steel products. After project completion Stomana’s production will not increase as planned investments are in cost control and to improve quality and environmental performance. The project will be implemented by Sidenor Industry, a large Greek manufacturer and marketer of steel products, who acquired Stomana in 2001. Sidenor is part of the Viohalco Group, a metal processing company and an existing IFC client in Bulgaria through an investment in Sofia Med, a producer of copper products.