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Romanian ELCEN Seeks Loan For Raw Materials

Romanian thermal power producer Electrocentrale Bucuresti (ELCEN) on Wednesday said it plans to take out a 5-year loan worth between 150 and 300 million lei (EUR35-70 million) to buy raw material.

Andrei Cîrchelan · 28 decembrie 2011 · 1 min de citit

“The bank loan is needed to fund the procurement of technological fuel from local sources and from import for winter 2011-2012, including auxiliary services of transportation and distribution,” the company said in a news release.

ELCEN will select a bank following negotiations set for January 17.

The company is among the firms monitored by the International Monetary Fund, listed with a debt of 43 million lei (EUR10 million) to the state budget. ELCEN is Romania’s largest thermal power producer.

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