EIB Grants €100M to Marcegaglia for Steel Industry Decarbonisation and Innovation

EIB Vice-President Gelsomina Vigliotti highlighted the steel industry’s pivotal role in the European economy while acknowledging its energy-intensive nature.

The European Investment Bank (EIB) has approved €100 million in financing for Marcegaglia, the Mantua-based steel group, to support its €170 million investment plan aimed at advancing sustainability, energy efficiency, and innovation in steel production.

The financing agreement was signed at Marcegaglia’s headquarters in Gazoldo degli Ippoliti by Antonio Marcegaglia and Emma Marcegaglia, heads of the family business, and EIB Vice-President Gelsomina Vigliotti. The project, scheduled for completion by 2028, reflects a joint effort to modernize the European steel industry while reducing its environmental footprint.

The funds will facilitate significant upgrades at Marcegaglia’s facilities in Ravenna, Gazoldo degli Ippoliti, and San Giorgio di Nogaro. These initiatives include:

Decarbonisation and Energy Efficiency:

Introducing advanced, low-carbon technologies for electrical steel production.

Decarbonising galvanising lines at the Ravenna plant.

Digitalisation and Automation:

Enhancing logistics through cutting-edge digital solutions.

Automating operations at production facilities.

Research, Development, and Innovation (RDI):

Supporting innovative production processes to improve sustainability.

Strengthening technological competitiveness in the European steel sector.

EIB’s Role and Strategic Importance

By funding more than the standard 50% of project costs under the REPowerEU framework, the EIB underscores its commitment to promoting sustainability and economic resilience in Europe. This project aligns with the EU’s climate neutrality objectives for 2050 and REPowerEU’s mission to strengthen energy independence and innovation.

EIB Vice-President Gelsomina Vigliotti highlighted the steel industry’s pivotal role in the European economy while acknowledging its energy-intensive nature. She remarked:

“The financing announced today will help Marcegaglia embark on a transformational journey, enabling the group to adopt more sustainable industrial processes, improve workplace safety, and reduce costs. Transitioning to clean and innovative technologies is essential to ensuring Europe’s competitiveness and achieving climate neutrality.”

Marcegaglia’s Vision for Sustainability and Growth

Antonio and Emma Marcegaglia expressed gratitude for the continued partnership with the EIB, which began in 2019. They outlined the investment plan’s dual focus on technological advancement and environmental responsibility:

“This loan will allow us to decarbonise our operations, improve energy efficiency, and integrate state-of-the-art technologies, ensuring both financial and environmental sustainability. We aim to position ourselves among the top-tier steel producers in Europe.”

Enhanced Financing Under REPowerEU

In light of its alignment with REPowerEU objectives, the EIB has extended additional benefits, including higher initial disbursements, extended loan maturities, and an increased co-financing ceiling of up to 75%. These measures aim to accelerate energy sector transformations across Europe, with the EIB committing €45 billion in additional financing for such projects by 2027.

A Milestone for the European Steel Industry

This collaborative effort between Marcegaglia and the EIB sets a benchmark for sustainable practices and technological leadership in the European steel sector. By driving decarbonisation and innovation, the project not only enhances Marcegaglia’s competitiveness but also contributes to broader EU goals for climate action and industrial resilience.