The state guarantee amounts to 80% of the loan, Chimcomplex said. The EUR5.6 million loan will be extended by Raiffeisen Bank Romania and will be used to co-finance an energy efficiency project at Chimcomplex Borzesti.
In December last year, Chimcomplex said it planned to invest up to EUR22 million in a new thermal power unit, a project co-financed from European funds. Additionally, the company decided to borrow EUR8.5 million from Raiffeisen Bank to upgrade its power systems.
Chimcomplex is 83.8% owned by A2 Impex Ploiesti, a member of the Serviciile Comerciale Romane group, controlled by businessman Stefan Vuza.
On Rasdaq market April 6, Chimcomplex closed up 4.55% at RON0.23 a share. (EUR1=RON4.3746)