Romelectro, one of the biggest general contractors for energy projects in Romania, contracted a RON 150 million (EUR 32 million) financing facility from state-owned lender Eximbank.

The financing will help the company carry out its projects in Romania and abroad. The financing consists of short-term loans and guarantee letters.

Romelectro has won several important contracts in recent months. The company will modernize several power stations for electricity carrier Transelectrica, for over EUR 50 million. Romelectro also leads the contracts for the refurbishment of the Stejaru and Slatina hydro power plants, for EUR 80 million.

It is also part of the consortium that builds the new 430 MW power unit at Iernut for local group Romgaz, a EUR 250 million contract. The company also has projects abroad, in Kosovo and Egypt.

editor@romania-insider.com