The European Investment Bank is granting the European leader in the production of specialized steel, Sidenor, a €50 million loan under the European Fund for Strategic Investments, the heart of the Investment Plan for Europe, or Juncker Plan.

Sidenor will use the funding to carry out its strategic innovation plan centered on improving cost efficiency, modernizing and digitalizing its facilities, developing new products and diversifying its business, to meet the latest market demand.

The agreement was signed under the Loans for Mid-caps in Spain and Portugal programme, a dedicated EIB financing facility for firms with up to 3.000 employees.