According to a government decision draft, one of the mines, Jilt, will require RON1.9 billion investments and will provide 8.5 million tons of coal yearly, while the second mine, Rosia, will provide 8 million tons of coal every year, following RON608.4 million investments.
CE Oltenia can currently produce over 34 million tons of coal every year.
In January, the company borrowed EUR193 million from lenders EBRD, BCR, BRD and Unicredit to finance upgrade works estimated at EUR220 million at one of its electricity production units.
CE Oltenia energy holding was set up in 2012, following the merger of several thermal power plants and coalmines. The holding operates 12 separate power units with a total installed capacity of 3,750 megawatts, covering over 30% of Romania’s annual electricity production.