Electrocarbon Slatina plans EUR 6 mln hydro power plant on Doftana river in Romania

Electrocarbon Slatina, a company listed on the Bucharest Stock Exchange (symbol ELNG), is currently seeking for a EUR 6 million loan to finance works on a hydro power plant on the Doftana river, in Prahova county of Romania. The company will ask its shareholders to approve the EUR 6 mln loan, as well as approve a contract with the Environment Fund Administration for EUR 4.6 million of non-reimbursable funds. The company's management will also ask its shareholders to approve the rollover of two overdraft loans worth EUR 2.8 million and USD 3 million respectively. Electrocarbon produces industrial electrodes. It is controlled by Romanian investor Laurentiu Vasile Dascalu, through Vivaio Campina, which owns 50.8 percent of the shares. editor@romania-insider.com