21.8 C
Bucharest
May 16, 2021
BUSINESS

EUR 700 M Hidroenergetica investments needed

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.

Related posts

Isarescu, BNR: Over half of Romania’s post-1990 industry should have been restructured or shut down

Nine O' Clock

Ukraine in talks with Germany, Romania and Turkey over gas imports

Nine O' Clock

Techcelerator expands in South-East Europe by launching Scale Match, the first regional matchathon dedicated to high-tech startups

NINE O'CLOCK