Finance Ministry agrees to guarantee loan for Huta Sendzimira steel mill

The Finance Ministry has agreed to guarantee up to 60% of a euro 183 million loan to the Huta Sendzimira steel mill. The loan, meant to finance the modernization of its rolling steel facility, has key significance for the mill's future, as it should help lower costs, improve quality and expand its range of products. "The planned investment is financially justified, and the mill needs it. Its future will depend on it," said deputy Finance Minister Rafal Zagorny, the official responsible for the loan guarantee. Huta Sendzimira already has a loan agreement signed with German bank Kreditanstalt Feuer Wiederaufbau and Raiffeisen Zentralbank of Austria, to finance the deal with Voest-Alpine, the contractor for the investment. (Puls Biznesu, p. 9) T.J.