Austria-registered Petrochemical Holding, majority owner of Romania's refinery Rafo, will receive a EUR 157.5mn credit line from Russian VTB Group, Mediafax reported. The loan will reportedly be used to finance a EUR 740mn investment programme at Rafo refinery. Under the two-year investment programme, to be discussed by Rafo shareholders today, December 9, the refinery is to start processing 3mn tonnes of crude oil and producing diesel fuel plus petrochemical feedstock. Rafo successfully completed its reorganisation earlier this year after a bankruptcy procedure that took several years. The government promised in 2009 to guarantee Rafo's bank loans up to a limit of EUR 330mn, but the plans have lingered meanwhile. |
Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more
Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more