New energy efficient equipment for drawn wire production and metal processing equipment will be purchased from a loan to Brako d. o. o. from Veles to improve production efficiency and quality for the other metal engineered products. The investment by the European Bank for Reconstruction and Development will support the company’s growth of the higher value-added and export-oriented products.
Over the past decade Brako has been investing in the development of health mobility systems, metal accessories, conveyor belt systems, telecommunication gear and equipment for hydropower plants, according to a press release on EBRD’s website.
Anca Ioana Ionescu, EBRD’s associate director and head of Skopje office, said: “Using the most innovative tools available in the market in an energy-efficient way is an important component for a competitive and successful business. We’re certain that this financing will help Brako to further strengthen its product portfolio and exports.”
Kočo Anđušev, president of Brako’s Board of Directors, added: “We’re keen to continue upgrading our production facilities through the acquisition of new and more efficient equipment. We want to improve our product quality, reduce operating costs and increase production capacity in line with the growing demand.”
The EBRD began investing in the Macedonian economy in 1993. To date, it has signed 99 projects in the country with a net cumulative business volume of more than EUR 1.6 billion.