Sunday, July 19, 2015

IDB sponsors financing of steel plant in Ecuador

The IDB has approved a loan of $37 million for the design, development, construction and operation of a new steel producing plant with a capacity for 400,000 tons per year in Milagros, Guayas province, Ecuador.

The project will contribute to a change in the country’s productive sector, creating more than 500 jobs, and includes training for the new employees, a shared value plan promoted by the IDB that is expected to benefit more than 800 recyclers, and a certificate of gender equity. It will be developed by Adelca, a leader in the steel industry. Adelca is a company whose raw material is scrap metal, such that its production processes are ecologically sustainable. Since the company’s founding it has continuously innovated both its production systems and the services it offers its clients through advanced technology and well-trained personnel.

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