EBRD in €85 million loan to Air Liquide Ukraine

By Anton Usov

The European Bank for Reconstruction and Development (EBRD) is providing a EUR 85 million loan to Air Liquide Ukraine LLC (ALU) to finance the development, construction and operation of a new Air Separation Unit (ASU) at Yenakievo Iron and Steel Works (EMZ) in south-eastern Ukraine.

ALU is a fully owned subsidiary of Air Liquide, the world leader in gases for industry, healthcare and the environment, which is listed on the Paris Euronext Stock Exchange, France. It supplies oxygen, nitrogen, hydrogen and other gases to various sectors ranging from steel to chemicals production.

ALU will employ a high-pressure oxygen production technology -- the best available in the industry. Compared to the low-pressure air separation technology commonly used in Ukraine and the CIS, it will bring significant improvements in terms of energy efficiency and reduce greenhouse gas emissions. The project will have a substantial social impact through better staff health and safety standards.

Built and operated under a long-term industrial gases supply agreement, the Air Liquide ASU, located within EMZ’s premises, will supply industrial gases to EMZ as well as to other industries in the country.

The EBRD is the largest financial investor in Ukraine. The Bank has committed over €6.2 billion (US$ 9.2 billion) in the country through 271 projects.