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EIB to provide EUR 65 mln loan to Bulgaria’s KCM

Initiatives

Photo by nitpicker/Shutterstock.com

The European Investment Bank (EIB) says it has agreed to provide a EUR 65 million loan to Bulgarian lead and zinc producer KCM to support the construction of a new lead refining plant and a zinc electrolysis unit, replacing outdated facilities. 

Photo by nitpicker/Shutterstock.com

The project will help the company raise its output by 25%, and increase the use of recycled materials significantly, the EIB said in a statement released on December 11..

The project, part of KCM’s technological upgrade program for 2020-2023, will increase the recycling capacity for different types of secondary waste lead and zinc materials by 15 percentage points to 35%. This is significantly above the 10-15% levels reported by other European primary smelters, the EIB noted.

The company accounts for about 1% of the total global lead and zinc output, and employs more than 1,500 people. KCM, part of local group KCM 2000, returned a consolidated loss of BGN 9.8 mln (some EUR 5 mln) in 2018 from a net profit of BGN 44 mln in 2017.

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