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wiredInUSA - April 2014
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INDEXThe European Investment Bank (EIB) is to
provide a €235 million loan to the Greek
Public Power Corporation (PPC) in support
of electricity network improvements in the
country.
Covering a period to 2015, the
multi-investment program aims at
renovating and reinforcing the electricity
distribution network, as well as extending it
to enable 186,000 new connections across
peninsular and insular Greece.
The program is intended to benefit
consumers and suppliers by improving
the infrastructure and increasing the
effectiveness of balancing electricity
supply with requirement.
The project will be managed by the
Hellenic Electricity Distribution Network
Operator, a subsidiary of PPC.
The energy sector in Greece has been
financed with a total of €4.6 billion since
the country’s accession to the European
Union, with PPCbeing themainbeneficiary
of EIB loans in the sector.
Greece network
improvements
EUROPE NEWS
Chinese steelmaker Baosteel has signed
a cooperative agreement with the
Netherlands-based Nedschroef Group to
supply high strength cold forged steel rod
for Nedschroef’s automotive fasteners.
Nedschroef is among the largest suppliers
of fasteners and cold-heading machines
in the world. Founded in 1894, Koninklijke
Nedschroef Holding NV manufactures
fasteners,
cold-heading
machinery
and tooling for the automotive sector.
Nedschroef is comprised of 24 facilities in
14 countries, employing 1,600 people and
generating 2011 sales of $671 million. In
2013 the group opened a new production
site in Kunshan, China, with the name of
Nedschroef Fasteners Kunshan Co Ltd, to
supply the increasing Chinese car market.
The plant mainly supplies high specification
automotive fasteners.
Baosteel is the only Chinese supplier of
high strength cold forging steel for the
China-basedproduction facilitiesofGeneral
Motors, Volkswagen and Nissan.
Agreement secured
on fasteners