The project is worth 25.9 million lei (EUR5.7 million), of which RON9.9 million represent non-reimbursable EU money, the company said in a statement Monday.
UAMT Oradea shareholders also decided to contract a credit line of RON25 million from BRD, and the money will be mainly used to pay off a debt to lender Banca Comerciala Romana (BCR), of RON23.42 million.
The company is 35.66% owned by the Employees Association and 31.51% by Ioan Stanciu, chairman of the company’s managing board.
On the Bucharest stock market Friday, UAMT traded flat at RON0.3550 a share. (EUR1=RON4.5209)