Mihai David, who coordinates the setting up of Hidroenergetica National Company, declared yesterday that he has initiated discussions with banks for credits of around EUR 700 M necessary for the investments in the future company. The loans will be guaranteed in a proportion of 80 per cent by the state, Mediafax informs. “For Elcen Bucharest we need investments of EUR 300-350 M, at Paroseni around EUR 300 M, while for Deva hydro power stations we haven’t yet established. For the National Pitcoal Company we need 50 M for a period of two years for its modernization,” said Mihai David, General Manager of Hidroelectrica. According to David, the authorities will have to plead with the European Commission in favour of striking off the historic debts of the National Pitcoal Company, which exceed EUR 1 bln. Economy Minister Adriean Videanu counts on the Chinese investors for the development of projects in energy, infrastructure and environment, reads a press release of the Ministry of Economy, daily ‘Gandul’ reports. On this occasion Videanu presented the intention to build three new energy groups through public-private partnership.