Romania's Rovinari power complex gets a lei 25m financing line from lender BRD

Romanian power complex Rovinari contracted a one-year crediting line worth 25 million lei from BRD – Groupe Societe Generale, declared Gheorghe Davitoiu, the general manager of the complex.

The money was taken as a preventive measure and will be used for production activities.

The complex will pay a ROBOR interest rate at six months and a 1.5 percentage points margin.

Davitoiu also mentioned that the complex will sign in a week or two a contract with the state-run lender CEC Bank for a ten-year loan worth 100 million lei. The money will be used for environment investments.

BRD is mainly owned by the French group Societe Generale, one of the biggest banking groups in the Eurozone, with 27 million clients around the world.

The power complex Rovinari produces electricity and was set up on April 1 2004. The main shareholders are the Authority for State Assets Recovery (AVAS) with 76.27 percent and the Proprietatea Fund with a participation of 23.73 percent.

The three power complexes in southern Romania, Rovinari, Turceni and Craiova, account for about a third of Romania’s electricity output, being the cheapest producers after state-run hydro power maker Hidroelectrica and nuclear power supervisor Nuclearelectrica.

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