Romania's Transgaz wants to take loans for EUR 450 mln pipeline

Romania's gas transporter Transgaz will contract loans and will invest its profits to build the Romanian section of a gas pipeline that will go from Bulgaria to Austria. The company needs to finance 60% of the construction costs, namely EUR 270 million. Transgaz is now in negotiations with several financial institutions for finding loans, reports local Wall-street.ro. The value of the whole project amounts to EUR 450 million, EUR 179 million of which will come from the European Commission. The European Union member states have recently agreed on the European Commission’s proposal to invest EUR 217 million in 15 trans-European energy infrastructure projects. The interconnector that links the gas networks of Bulgaria, Romania, Hungary, and Austria will bring natural gas from the Caspian area to Central Europe. editor@romania-insider.com