European Investment Bank | Business Upturn

WABAG secures large EIB-funded wastewater treatment project in Georgia

Yash Agarwal — Fri, 20 Mar 2026 02:57:59 +0000

VA Tech Wabag, a prominent multinational water technology group, has been awarded a significant contract by United Water Supply Company of Georgia LLC. The contract involves the construction of a 19 Million Litres Per Day (MLD) wastewater treatment plant (WWTP) in Kutaisi, Georgia, funded by the European Investment Bank (EIB). The project is designed for future expansion to a capacity of 56 MLD.

The engineering, procurement, and construction (EPC) scope of the project includes the demolition of the existing plant, construction of the new WWTP, and installation of an effluent pipeline to the river. As the consortium leader, WABAG will handle the design, engineering, supply, installation, and commissioning of the treatment systems. Additionally, they will provide training to client personnel and supervise operation and maintenance for 12 months.

The plant will feature advanced mechanical and biological treatment with nutrient removal based on the activated sludge process, along with final sedimentation and UV disinfection. The project also includes sludge treatment facilities, solar sludge drying systems, odour control systems, and associated pumping infrastructure. This order marks WABAG’s entry into the CIS region and the Georgian market, further solidifying its position as a trusted partner in delivering sustainable and innovative water management solutions globally.

Commenting on the development, Mahmut Gedek, Chief Executive Officer – Europe Cluster, expressed pride in securing the Kutaisi WWTP contract, marking WABAG’s entry into Georgia. He thanked the customer for their trust and emphasised the project’s technical robustness and commercial competitiveness, ensuring safe discharge into the River Rioni and sustainable sludge management. The project is expected to bring lasting environmental, health, and social benefits to the residents of Kutaisi.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

European Investment Bank to support National Green Hydrogen Mission with €1 billion loan

Adesh Dixit — Thu, 13 Jul 2023 12:31:02 +0000

European Investment Bank has announced that it will support Indian Government’s recently approved National Green Hydrogen Mission with a loan of over €1 billion that will boost India’s green hydrogen mission and renewable energy projects.

Kris Peeters, EIB’s vice-president will confirm the lender’s interest in providing the loan facility during his upcoming trip to India this week to attend G20 events.

EIB in its statement said, “Peeters will highlight the EIB’s interest in boosting India’s renewable energy ambitions by backing renewable energy generation, as well as enabling technologies and infrastructure for energy storage, power transmission and distribution.”

“The aim of the visit is to confirm the EIB’s commitment to future investment under the EU-India Connectivity Partnership, in support of the European Green Deal and the EU Global Gateway strategy, and in support of India’s own ambitious agenda on climate, renewable energy, connectivity and sustainable finance, in particular by supporting projects with strong climate action benefits,” the statement further said.

While EIB VP Kris Peeters said, ““The European Investment Bank, the EU bank, is committed to supporting transformational private and public investment across India, improving access to finance by entrepreneurs and addressing the challenges of a changing climate.”

“India is a key country of operations for the EIB and hosts the EIB regional representation for South Asia,” he added.

Stock Market update: Metal stocks Tata Steel, JSW trade in red as Jeffries downgrades rating

Malvika Choudhary — Tue, 11 Jan 2022 08:18:16 +0000

Jefferies Group LLC, an American transnational independent investment bank has downgraded TATA from Buy to Hold, and JSTL from Buy to UNPF and retained Buy on HNDL, it highlighted in its report released on January 10, 2022. The bank has diminished its sanguinity on Indian metals just after the commencement of the year 2022.

“We lower our optimism on Indian metals as we enter 2022. Weak macro and demand concerns in China are weighing on metal prices. Although easing policy could lift Chinese demand, we still find risk-reward much inferior to a year ago. We cut FY23 EPS for TATA/JSTL by 18%/26%, and are 23%/22% below the street. We downgrade TATA from Buy to Hold, and JSW from Buy to UNPF. We like Novelis’ downstream business, and prefer aluminium to steel; we retain Buy on HNDL,” the key takeaway of the report read.

The bank stated that after a powerful FY22E, they witness EPS dipping 44%/21% YoY for TATA/JSW in FY23. For HNDL, they have boosted FY23 EPS by 5%, and see a 5% YoY gain.

“We believe the backdrop for metals remains better than the last decade as decarbonization in China should limit exports. Global steel capacity utilization average ~76% over 2011-2020; JEF expects CY22-23 utilization to be at a decade-high 83-84%. However, unlike early-2021, the case for a big rally in metal prices is behind, and we find risk-reward for Indian steel stock far inferior to a year ago,” the report added.

Addressing the steel margins to contract sharply, the report highlighted that the coking coal, conversely, almost doubled in 2HCY21, pushing up costs. Indian HRC steel price has doubled from Jun-20 to Oct-21 but is down 12% since then to Rs 64K. It is speculated by the bank that the Indian steel margins have been at their highest in 1HFY22. And will fall snappily by FY23, albeit settle above documented levels. It is supposed that the FY23 steel price of Rs 58K (6% cut, 9% below spot) and coking coal price of $230/t (36% below spot). Aluminium rose ~60% Jan-Oct but is down 7% since then to $2,913; the bank has expanded its FY23 assumption from $2,500 to $2,600 (11% below spot).

Global entity prices rebounded through 2HCY20 and 1HCY21 as the strong post-Covid recovery in China, on the back of an assertive policy impulse, drove closer market credits. Chinese macro conditions plunged in 2HCY21 as the effect of stimulus withered and government focus shifted to environmental issues, deleveraging and redistribution of capital. The slowdown in the property sector added to the pressures
of an already waning thrift.

European Investment Bank to fund €250 million for Agra Metro Rail project: Finance Ministry

Aviyukta Adlakha — Thu, 23 Dec 2021 14:02:11 +0000

The Government of India and European Investment Bank signed a Finance Contract on Wednesday for the first tranche loan of Euro 250 million out of the total 450 million to fund the Agra Metro Rail Project.

‘The document has been signed in Delhi and Brussels by Mr. Edvardas Bumsteinas jointly with Mr. Roger Stuart, Head of Divisions representing European Investment Bank, and Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance representing the Government of India,” as per reports.

The Agra rail project aims to provide a safe, reliable, affordable, and environment-friendly public Mass Rapid Transit System for Agra city in order to improve mobility and for aid in the planned urban development in Agra apart from providing economic productivity as well as job creation.

The financing from EIB will be used to fund the construction of a 29.4 km metro corridor that comprises Corridor-1 from Sikandara to Taj East Gate and Corridor-2 from Agra Cantt to Kalindi Vihar in Agra City. The line ministry for this project is the Ministry of Housing and Urban Affairs while the implementing agency is Uttar Pradesh Metro Rail Corporation Ltd.