The Loans will be used for the funding of a new 308.2 km long gas transmission pipeline and to finance Vestmoldtransgaz.
Transgaz published a document stating they have signed a loan contract for EUR 100m which represents the second tranche of the loan approved for Transgaz amounting to EUR 150m.
The contract for the first tranche of EUR 50m was signed on 17 December 2018. The EUR 150m were granted by the European Investment Bank (EIB) for the funding of a new 308.2 km long gas transmission pipeline to connect Romania’s Black Sea off-shore sources both to the National Gas Transmission System and to the BRUA Corridor.
Furthermore, Transgaz also signed a loan contract of EUR 38m, where the EIB gives funding to Eurotransgaz SRL, Transgaz’ subsidiary in Moldova, to finance Vestmoldtransgaz SRL regarding the Ungheni – Chisinau interconnection project.
As of Q3 2018, Trasgaz’s net financial debt is RON -692.8m, meaning that cash and cash equivalents over exceed their financial debt.