Zenica CHP Plant Upgrade and Modernization Project

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The project involves an upgrade and modernisation of a plant located in Zenica, Bosnia and Herzegovina whereby a combined heat and power plant (CHP) will replace coal-fired plant in Zenica, Bosnia and Herzegovina. The project entails the replacement of the existing coal boilers with gas-fired boilers and a steam-driven blower with an electric blower. The project will transfer the production of steam and blast air for ArcelorMittal Zenica's steelworks and the production of district heating water for the City of Zenica. The SPV Toplana Zenica doo is formed by ArcelorMittal Zenica (50%), City of Zenica (20%), KPA Unicon (Finland) (15%) and Finnfund (15%), which is investing EUR 1.8 million or $ 2.04 millionin equity. The total project cost is EUR 53 million or $ 59.95 million. The debt financing amounts to EUR 46 million or $ 52.03 million. EBRD is providing EUR 28 million or $ 31.67 million loan from own account (EUR 23 million or $ 26.02 million from the Bank and EUR 5 million or $ 5.66 million of concessional financing from the International Cooperation and Development Fund (TaiwanICDF) and Banca Intesa Sanpaolo is providing a loan of up to EUR 18 million or $ 20.36 million. Financial close was reached on 15 March 2019. https://www.ebrd.com/news/2019/ebrd-secures-greener-energy-for-bosnian-city-of-zenica.html https://www.ebrd.com/work-with-us/projects/psd/toplana-zenica-doo.html https://zenica.arcelormittal.com/news-and-media/news/2018/october/10-10-2018.aspx?sc_lang=en http://www.icdf.org.tw/ct.asp?xItem=54677&ctNode=30881&mp=2 https://www.finnfund.fi/en/news/arcelormittal_zenica-bosnia-herzegovina/ https://www.finnfund.fi/en/investing/investments/arcelormittal-toplana-zenica/