Yildirim to purchase Albanian metal miner

Yildirim Holding AS, a Turkish conglomerate, will be supported in the acquisition of AlbChrome, Albania, by the European Bank for Reconstruction and Development (EBRD) Raiffeisen Bank International AG and Credit Europe Bank.

The move is an expansion into a new market for Yildirim and bring new foreign direct investment to Albania, while focusing on the sustainable development of AlbChrome. The company will be the first entity in the country to develop a roadmap for effective climate action, says Charlotte Ruhe, EBRD Managing Director for Central and South-Eastern Europe.

AlbChrome will promote access to new skills and employment for local workers across its mines and plants, which are located in less developed regions of Albania.

Yildirim Holding is one of the largest exporters of ferrochrome globally. The mineral is crucial to the production of stainless steel and other metal alloys. Chromium, a component of ferrochrome, is also used in many other industries, including the production of electric vehicles.