BAKU, Azerbaijan, December 14. The European Bank for Reconstruction and Development (EBRD) has approved the allocation of a secured loan worth $4.2 million to the Azerbaijani AZ-LEAD LLC company, Trend reports citing the bank.
The loan will consist of three elements: $1 million to refinance existing indebtedness, $1.9 million for capital expenditure to increase the recycling capacity and improve energy efficiency, and $1.3 million to procure scrap batteries.
AZ-LEAD LLC plans to increase secondary lead production capacity from 7.2 ktpa to 17.3 ktpa at the expense of the loan.
"The system of direct financing of SMEs primarily targets the "competitive" quality by helping SMEs to restructure and become more efficient. This project also supports the achievement of environmental goals," said the bank.
The bank noted that the total cost of the project is $4.4 million.
AZ-LEAD LLC, incorporated in Azerbaijan, engages in the production of secondary refined lead via the recycling of end-of-life lead-acid batteries. The company was established in 2014 and performs production activities in Sumgayit.