EBRD approves loan to Srbijagas
The European Bank for Reconstruction and Development (EBRD) has approved a loan worth EUR 150mn to the Serbia's state-run gas monopoly Srbijagas.
Tuesday, 09.02.2010.
17:15
The European Bank for Reconstruction and Development (EBRD) has approved a loan worth EUR 150mn to the Serbia's state-run gas monopoly Srbijagas. The money will be used for financing of the modernization of the gas transmission network in Serbia and construction of new gas storage, EBRD stated on Tuesday. EBRD approves loan to Srbijagas The storage located at one of the gas deposits near Itebej, a village in the Central Banat District, will have the capacity of up to one billion cubic meters and will be used for strategic and commercial purposes while Srbijagas will be its only operator. EBRD will also finance the reconstruction of 49 percent of the Serbian gas distribution network as part of the project, while part of the funds will be used for refinancing of Srbijagas's short-term loans which will enable the company improve its capital structure and free recourses for the key strategically important projects whose aim is to link Serbia's gas transmission network with those of the neighboring countries. This is the third gas storage project in the region financed by EBRD.
EBRD approves loan to Srbijagas
The storage located at one of the gas deposits near Itebej, a village in the Central Banat District, will have the capacity of up to one billion cubic meters and will be used for strategic and commercial purposes while Srbijagas will be its only operator.EBRD will also finance the reconstruction of 49 percent of the Serbian gas distribution network as part of the project, while part of the funds will be used for refinancing of Srbijagas's short-term loans which will enable the company improve its capital structure and free recourses for the key strategically important projects whose aim is to link Serbia's gas transmission network with those of the neighboring countries.
This is the third gas storage project in the region financed by EBRD.
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