EnglishShareholders in Rompetrol Rafinare decided to contract a 15 million EUR loan from Dutch bank Credit Europe Bank NV, according to a report to the Bucharest Stock Exchange.
The money will be used to finance the refinery"s current activities.
The loan was granted for a maximum period of 12 months and is guaranteed by some of the company"s fixed assets.
Shareholders have also approved a one-year extension of a 110 million USD syndicated loan from HVB Bank Romania, Bank Austria Creditanstalt and Banca Comerciala Romană. The initial contract was signed in June 2004.
For the current fiscal year, Rompetrol Rafinare Constanta estimates a net profit of 6.57 million USD (16.53 million RON), as compared with a loss of 45.95 million RON in 2006. Turnover is expected to reach 1.98 billion USD, down 10% from 2.2 billion USD in 2006.
The company has a share capital of 2.10 billion RON. Rompetrol Rafinare (Petromidia) is listed on Tier 2 of the Bucharest Stock Exchange as RRC and has a market capitalisation of 2.61 billion RON.
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