InfraBuild, an Australian long product producer, has obtained a loan of US$350 million to realize its growth targets, including a potential acquisition of GFG Alliance’s steel assets in the US.

Dak Patel, interim CEO and Managing Director of InfraBuild, said that the asset-backed term loan provides InfraBuild with strategic capital, which will enable the company to focus on reinforcing operations and using the growing demand for lower-carbon steel. Besides, the loan will also be helpful for the company’s continued development and services in businesses across different markets.