EximBank has granted Romelectro SA, one of the largest general contractors for energy projects in Romania, a financing worth 150 million lei for the projects that the company has ongoing at home and abroad. The contract includes a financing component covering temporary cash needs and also a guarantee component.
In recent months, Romelectro has won the bids organized by CNTEE Transelectrica SA for the modernization of several transformation power stations (Focsani West, Roman North, Bacău South, Smârdan, Craiova and Medgidia) totaling more than 50 million euros.
In the energy production filed, Romelectro coordinates the refurbishment contracts for hydroelectric power plants in the counties of Bistrița and Olt, with a total value of about 80 million euro. In 2016, Romelectro signed a partnership with a Spanish company to build a combined cycle gas plant of 430 MW in Iernut, an investment of Romgaz, in a contract worth a total of 250 million euros.
“Romelectro’s evolution in recent years has strengthened its our position as the most important general contractor of energy projects in Romania,” said Viorel Gafiţa, president of Romelectro; he added that the company is going through a very favorable period, as it succeeded not only in winning bids for projects abroad, but also to win tenders organized by national companies for highly complex energy projects.
“Our collaboration started four years ago and it is important for us because it is a model for the significant role that EximBank can play in implementing development plans,” said Traian Halalai, President of EximBank.
EximBank defines itself as a specialized institution that is actively involved in supporting and promoting the Romanian business environment through specific financial instruments dedicated exclusively to the corporate segment, whether it is SMEs or a large companies, with national or international transactions.
Romelectro SA is a general contractor for complex energy projects for producing, transporting and distributing electricity, infrastructure projects, non-energy industries included.