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Glaverbel: EIB loan granted

10 December 1998: The European Investment Bank (EIB) said on 1 December it was advancing two long-term loans worth a total of BFr 4 billion in partnership with the Kredietbank CERA (KBC) Group: one fo…

10 December 1998: The European Investment Bank (EIB) said on 1 December it was advancing two long-term loans worth a total of BFr 4 billion in partnership with the Kredietbank CERA (KBC) Group: one for an industrial anti-pollution project at the Sidmar steelworks in Ghent; and the other for modernizing the facilities of Glaverbel, one of Europe“s leading glass manufacturing groups. According to a recent report, BFr 2.5 billion will be lent for environmental upgrading of Sidmar“s integrated steelworks in Ghent designed to bring the plant into line with the relevant Community Directives as well as Flemish legislation (the Vlarem II-bis Act) due to enter into force in 1999. The project consists of 45 schemes to reduce substantially air, water and dust pollution. The second loan, for BFr 1.5 billion, will support the continuous modernization of production facilities at a number of the Glaverbel group“s sites located in assisted areas in Belgium, France and the Netherlands, the report said. The schemes concerned will enable Glaverbel to broaden its range of high value-added products, while reducing production costs.

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