The Cunext Group has signed an extension of the green and sustainable syndicated loan, with the financing reaching a total amount close to 35 million euroswhich will be used to expand its Córdoba facilities for the manufacture of anodes from secondary copper, as indicated in a press release.
The expansion will include a new furnace which will result in increased production of 40,000 tonnes per year. The loan, which was taken out by the Official Credit Institute (ICO), Caja Rural de Navarra and EBN Banco, is insured by Cesce, through its activity on behalf of the State, through the coverage of strategic investments in Spain in a context of internationalization of the group of companies.
The operation also benefited from the legal advice of Gómez Acebo & Pombo and Serfiex acted as an agent of sustainability.
This project is part of the development of a new phase of compliance with the group’s strategic investment plan which allows the secondary copper smelting (scrap copper) for the manufacture of a new format necessary for the implementation of the investment planwhich also includes the installation of a plant for the production of grade A copper cathodes, with a copper content of 99.99%, by electrolysis process.
Investments
The Cunext Group’s strategic plan provides for investments in excess of 230 million euros and focuses on taking advantage of the energy transition towards modernization of the electricity networkelectrification and electric cars, decarbonization and the transition to renewable energies, digitalization of smart networks and decentralization at different points of production and consumption.
The group plans to close 2024 with a billing around the 1.8 billion euros, where 80% of its production has its final destination on the foreign market, directly exporting more than 50% of its sales to more than 50 countries.
