China to Provide Financial Support for Hungarian Steel Works Revamp
08/05/2024 - The China Export and Credit Insurance Corp. (Sinosure) is underwriting EUR1.3 billion in loans that will pay for two new electric arc furnaces at Liberty Steel Group’s Dunaujvaros plant in Hungary.
The 150-metric-ton furnaces are part of a plan to upgrade the facility, which Liberty Steel acquired through a liquidation procedure last summer. The upgrades, which include improvements to the hot rolling mill and galvanizing line, will transform the facility into a supplier for the local defense and automotive industries, reported the Daily News Hungary.
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