EBRD approves EUR 30mn loan to gas distributor Citygas Bulgaria.

By bne IntelliNews May 10, 2010
The EBRD approved a loan of up to EUR 30mn to Citygas Bulgaria, which holds a 35-year renewable concession to develop and operate the gas distribution network in the region of Trakia and the municipality of Kardzhali in the southern part of the country with a population of some 900,000 people, the bank said on its website. The facility will finance the construction of 833 km of the gas distribution network and related infrastructure in 27 municipalities in the above regions by 2012. The project is part of an investment programme worth a total of up to EUR 125mn, which envisages the construction and operation of 1,700km of gas distribution pipelines and associated infrastructure that will provide gas connection to over 1,000 industrial clients, 1,500 commercial clients and 96,000 domestic users by 2017. Some 20km of the pipeline crosses NATURA 2000 sites and the environment ministry has issued an opinion that the construction will not have significant impacts on the environment. Italy's Gruppo Societa' Gas Rimini Spa controls 90.22% of Citygas.

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