English
2.5 million Euros will be credited to the account of CET (Thermal Electrical Plant) Iaşi, coming from the loan taken out from the European Bank for Reconstruction and Development (EBRD), intended for the modernization of Iaşi"s heating system. The Director of CET Iaşi SA, Didi Melinte, said: "After the discussions between the city officials and the representatives of the EBRD, it has been decided that the EBRD will receive the second rank guarantees it has requested, as collateral that the loan will be paid back. As such, the EBRD will unlock the funds that we needed, with the money to be directed right away to the companies that are delivering the modernization works for several locations and thermal modules".
CET Iaşi has a large program underway for the rehabilitation of the heating system, with an estimated value of 115 million Euros and which has two scheduled stages: 2006 - 2008 and 2009 - 2011. In order to be able to fund the investments of this program, the company secured a 20 million loan from the EBRD. This amount will be supplemented by an EUR 7 million grant from the Swiss government, and 4.4 million Euros were contributed by CET Iaşi SA, which allowed it to raise the 31.4 million Euros needed for the implementation of the first stage of the rehabilitation and modernization plan. The second phase of the program, scheduled for the 2009-2011 period, will require some 85 million Euros, that the company expects will come from structural funds.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
