Project Description
Stomana Industry A.D. (Stomana), an existing and very valued IFC client, is the second largest steel producer in Bulgaria. This project involves about a 43 million euro investment in a new hot rolling mill. This investment will not increase the volume of steel produced by Stomana but allow the company to provide the market efficiently with higher value added products of better quality. IFC’s initial successful investment in 2003 allowed Stomana to modernize their mini-mill allowing the same volume of steel to be produced more efficiently, with higher quality and very much improved environment, worker health and safety performance. Stomana is part of the Viohalco Group, a large metal processing group with headquarters in Greece.