IIB grants a loan to Steppe Metal Powder LLC
International Investment Bank and Steppe Metal Powder LLC (SMP) from Mongolia have concluded a loan agreement for the amount of 8 million euros for a period of 6 years. The first tranche of the loan was transferred on June 5, 2020.
The funds allocated by the Bank will be used for the construction and installation of a modern high-tech plant that will produce copper and copper (bronze, copper and brass) alloy powders in Mongolia.
Introducing the most advanced British and German technologies and equipment, the plant, which is scheduled for a launch at the second half of 2021, will have the production capacity of 3,000 metric tons of metal powders per year.