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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian steel mill owned by Italian group gets EBRD working capital loan

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 5 million loan to Romanian steel producer Donalam, part of the Italian group Beltrame.

Donalam will use the loan to bridge a potential working capital gap, the EBRD announced in a press release.

Donalam, located in Calarasi, south-eastern Romania, was set up in 2006 after the Italian group Beltrame, a European leader in merchant bars, bought the local Siderca rolling mill. Steel rounds produced at Donalam are sold to Germany, Italy, and markets in central and eastern Europe, for use in industrial and mechanical engineering, the automotive sector, and the oil industry.

The company will use the two-year EBRD loan to finance its working capital needs and bridge liquidity gaps caused by the Covid-19 pandemic.

The EBRD previously provided EUR 4 million in financing for investments at the Donalam steel mill.

The EBRD says its activity is currently fully dedicated to helping the economies where it invests and private companies to overcome the impact of the ongoing coronavirus pandemic.

andrei@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian steel mill owned by Italian group gets EBRD working capital loan

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 5 million loan to Romanian steel producer Donalam, part of the Italian group Beltrame.

Donalam will use the loan to bridge a potential working capital gap, the EBRD announced in a press release.

Donalam, located in Calarasi, south-eastern Romania, was set up in 2006 after the Italian group Beltrame, a European leader in merchant bars, bought the local Siderca rolling mill. Steel rounds produced at Donalam are sold to Germany, Italy, and markets in central and eastern Europe, for use in industrial and mechanical engineering, the automotive sector, and the oil industry.

The company will use the two-year EBRD loan to finance its working capital needs and bridge liquidity gaps caused by the Covid-19 pandemic.

The EBRD previously provided EUR 4 million in financing for investments at the Donalam steel mill.

The EBRD says its activity is currently fully dedicated to helping the economies where it invests and private companies to overcome the impact of the ongoing coronavirus pandemic.

andrei@romania-insider.com

(Photo source: Shutterstock)

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