EIB Expected To OK EUR65M Loan For Romanian Transelectrica

The European Investment Bank might approve next week a EUR65 million loan for Romanian state-owned power grid operator Transelectrica (TEL.RO), the company’s general manager Adrian Baicusi told a news conference Thursday.

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"The signals are positive," Baicusi said.

The loan will be used by the company to upgrade the power transport network.

For 2010, Transelectrica estimated investments of 485 million lei (EUR1=RON4.2208), of which RON101 million will come from transport connection taxes obtained from companies.

Transelectrica is owned by the Economy Ministry, with a 73.6% stake, while investment fund Fondul Proprietatea holds 13.5% of its shares.

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