{"id":2561,"date":"2018-11-12T16:43:16","date_gmt":"2018-11-12T13:43:16","guid":{"rendered":"http:\/\/www.eximbank.ro\/en\/?p=2561"},"modified":"2018-11-12T16:43:16","modified_gmt":"2018-11-12T13:43:16","slug":"eximbank-finances-romelectro-with-150-million-lei","status":"publish","type":"post","link":"https:\/\/www.eximbank.ro\/en\/2018\/11\/12\/eximbank-finances-romelectro-with-150-million-lei\/","title":{"rendered":"EximBank finances Romelectro with 150 Million Lei"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Bucharest, November 12,\u00a02018<\/strong> \u2013 EximBank has granted Romelectro SA, one of biggest EPC contractors for energy projects, a credit facility worth 150 million lei, destined for funding ongoing projects in Romania and abroad.<\/p>\n<p style=\"text-align: justify;\">The credit facility includes a financing component covering temporary cash needs, as well as letters of bank guarantee, and will provide the company with the necessary funding for the execution of ongoing contracts in Romania as well as international markets.<\/p>\n<p style=\"text-align: justify;\">\u201eThis cooperation with Romelectro started four years ago is important to us as it constitutes a showcase of the crucial role that EximBank may play in implementing the expansion plans of Romanian companies. With EximBank as main financial partner, Romelectro has succeeded expanding its project portfolio with several large domestic contracts, as well as extending and consolidating its presence on highly competitive external markets. It is proof that any company that has by its side a bank that understands its demands and adapts to its needs, as does EximBank, will soon meet with success\u201d declared Traian Halalai, President of EximBank.<\/p>\n<p style=\"text-align: justify;\">In the last few months alone, Romelectro has signed contracts with Transelectrica (the Romanian Power Transmisssion System Opetarator) for the refurbishment of several electrical substations (Foc\u0219ani Vest, Roman Nord, Bac\u0103u Sud, Sm\u00e2rdan, Craiova and Medgidia), worth in total over \u20ac50 million. Also, the refurbishment of Bradu 400\/220\/110\/20 kV substation is in its final stages, as well as the investment in multiple 220 and 110 kV overhead transmission and distribution lines in Kosovo.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.eximbank.ro\/en\/wp-content\/uploads\/2018\/11\/c5632f31-703f-4b44-a67d-1d8c3534423a-original.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2562\" src=\"http:\/\/www.eximbank.ro\/en\/wp-content\/uploads\/2018\/11\/c5632f31-703f-4b44-a67d-1d8c3534423a-original-690x345.jpg\" alt=\"\" width=\"692\" height=\"346\" srcset=\"\/wp-content\/uploads\/2018\/11\/c5632f31-703f-4b44-a67d-1d8c3534423a-original-690x345.jpg 690w, \/wp-content\/uploads\/2018\/11\/c5632f31-703f-4b44-a67d-1d8c3534423a-original-300x150.jpg 300w, \/wp-content\/uploads\/2018\/11\/c5632f31-703f-4b44-a67d-1d8c3534423a-original-768x384.jpg 768w, \/wp-content\/uploads\/2018\/11\/c5632f31-703f-4b44-a67d-1d8c3534423a-original.jpg 1799w\" sizes=\"auto, (max-width: 692px) 100vw, 692px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">In the field of power generation, Romelectro is leading the refurbishment projects for the hydroelectric power plants Stejaru on the River Bistri\u021ba and Slatina on the River Olt, worth in total around \u20ac80 million, as well as several refurbishment programs for the coal fired thermal power plants which belong to CE Oltenia. In 2016 Romelectro signed, in parthership with a Spanish company, the contract for the building of a new 430 MW combined cycle power plant in Iernut, with Romgaz as investor, with a total worth of \u20ac250 million.<\/p>\n<p style=\"text-align: justify;\">Another prestigious achievement by Romelectro in the power generation field, in parthership with SAEM Energomontaj, is the execution and succesful comissioning of the 1200 MW Unit 1 on natural gas of the Burullus thermal power plant in Egypt.<\/p>\n<p style=\"text-align: justify;\">\u201eRomelectro\u2019s evolution in the past few years has consolidated our position as the most important EPC contractor of strategic energy projects in Romania. The company is currently undergoing a very favourable time, having succeeded in winning, beside projects abroad, tenders held by national companies for highly complex energy projects. In all these projects Romelectro attracts many Romanian engineering, manufacturing, construction and assembly companies, in its mission to become a hub for promoting Romanian industry at home and on international markets. In such approaches we need solid financial partners, with expertise in financing complex industrial projects, being familiar with the Romanian market specificity. EximBank is for us such a partner and we wish to continue to benefit in the coming years from this cooperation.\u201d said Viorel Gafi\u021ba, President of Romelectro.<\/p>\n<p style=\"text-align: justify;\">In order to continue growing its portfolio of energy investments in Romania, and knowing well their volume and trends on the international market, Romelectro will continue its policy of consolidation of its position as general contractor for complex projects through the leverage of the potential of Romanian professionals and companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bucharest, November 12,\u00a02018 \u2013 EximBank has granted Romelectro SA, one of biggest EPC contractors for energy projects, a credit facility worth 150 million lei, destined for funding ongoing projects in Romania and abroad. The credit facility includes a financing component covering temporary cash needs, as well as letters of bank guarantee, and will provide the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-2561","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EximBank finances Romelectro with 150 Million Lei - Exim - Banca Romaneasca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.eximbank.ro\/en\/2018\/11\/12\/eximbank-finances-romelectro-with-150-million-lei\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EximBank finances Romelectro with 150 Million Lei - Exim - Banca Romaneasca\" \/>\n<meta property=\"og:description\" content=\"Bucharest, November 12,\u00a02018 \u2013 EximBank has granted Romelectro SA, one of biggest EPC contractors for energy projects, a credit facility worth 150 million lei, destined for funding ongoing projects in Romania and abroad. 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