EIB Loan for AMAG
The European Investment Bank (EIB) has granted a €75 million loan to AMAG Austria Metall AG, Austria's leading aluminium producer. This funding is aimed at advancing research, development, and manufacturing processes, focusing on digitalisation and environmental sustainability at AMAG's Upper Austria plant.
TechEU Programme
This loan marks the first EIB operation in Austria under the TechEU programme, which aims to accelerate industrial innovation across Europe. The credit supports AMAG's planned investments, which are projected to reach €168 million between 2025 and 2028.
Strategic Investment
The EIB Vice-President highlighted the loan as a strategic investment in research, digitalisation, and sustainable production. The initiative is expected to enhance Europe's competitiveness and industrial resilience, with AMAG setting benchmarks in sustainable materials development.
Industrial Impact
AMAG's Ranshofen site, employing 2000 people, plays a crucial role in Europe's industrial base. More than half of AMAG's products are high-value applications used in industries such as automotive and aerospace. The company plans to develop innovative rolled and cast aluminium products for various sectors, including aircraft, automotive, and construction.
EU Goals
The EIB loan aligns with the European Union's goal to secure a sustainable, diversified, and stable supply of critical raw materials, including aluminium. This operation benefits from backing under the InvestEU programme, which supports sustainable growth and digital transformation in Europe.
