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Bulgarian copper producer Sofia Med secures €25M loan to set up R&D unit

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Bulgarian copper producer Sofia Med secures €25M loan to set up R&D unit

Sofia Med SA, a Bulgarian copper producer and a unit of Elvalhalcor Hellenic Copper and Aluminium Industry SA, secured a €25 million loan from the European Bank for Reconstruction and Development, Reuters reported Jan. 7.

According to the bank, several lenders are extending parallel financing as part of a €85 million long-term joint financing package to help Sofia Med set up a research and development unit, and for the development of new higher value added copper products.