EBRD weighs on a 200-mln loan for Petrom

The European Bank for Reconstruction and Development (EBRD) is examining the request to grant a 200 million euro loan to Romania’s largest company Petrom to fund the construction of a power plant with an installed capacity of 860 MW, NewsIn informs.

The plant will be built at Brazi, near the Petrom refinery and it will be the most efficient thermal-electric plant of this size in the country. Total investments amount to 500 million euros.

The project is the first in Romania to use only private participations, as all the other power stations are owned by the state. It will help stabilize Romania's electric system and it will improve the assets base in the electric sector.

Petrom's natural gas production slipped last year by 3 percent versus 2007, to 5.533 million cubic meters, due to limitations of the transportation web, to interruptions in the activity of major consumers in the chemical fertilizers industry and also to the small number of gassers built (only 11 gassers completed from 15 in 2007).

Petrom's oil production remained at the same level as in 2007, of 4.5 million tons.

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