EBRD to assist SIAD Group expansion in Serbia

At a Western Balkans investment summit in London, the EBRD on Monday signed an agreement on a 7 mln euro loan to Belgrade-based Istrabenz Plini aimed at supporting the company's development in Serbia.

24 Februar 2020 16:15

LONDON - At a Western Balkans investment summit in London, the EBRD on Monday signed an agreement on a 7 mln euro loan to Belgrade-based Istrabenz Plini aimed at supporting the company's development in Serbia.

"Istrabenz will use the funds to construct a filling station in Simanovci, 35 km north-west of Belgrade, which will allow the company to fill gas cylinders with industrial gases instead of purchasing filled industrial gas cylinders from its parent company in Slovenia.

The investment will allow the company to meet the higher demand of its industrial and retail customers in Serbia and potentially neighbouring countries. It will also help improve efficiency and reduce costs by replacing the transportation of heavy, filled cylinders over long distances by the transportation of lighter gases in bulk.

The company’s parent operates industrial and natural gas supply and energy services to companies and households in Slovenia and through its subsidiaries in Serbia, Croatia and Bosnia and Herzegovina.

Istrabenz is ultimately owned by SIAD SpA, a leading Italian and European industrial gas producer with operations in the Western Balkans and in Austria, Bulgaria, Hungary, Poland, Romania, the Czech Republic and the Slovak Republic," an EBRD statement said.

Photo: pixabay.com image

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