Romanian energy holding Oltenia has signed an agreement to borrow around 200
million euro ($270.9 million) from the European Bank of Reconstruction and
Development (EBRD), the Romanian economy ministry said.
The company will
use the funds to upgrade one of its power production units, the economy ministry
said in a statement on Thursday.
The Oltenia holding, set up in 2012,
includes state-run mining company SNLO and the Craiova, Turceni and Rovinari
thermal power generation complexes.
Romania's economy ministry holds a
77.17% stake in Oltenia and blue-chip investment fund Fondul Proprietatea
[BSE:FP] owns 21.54%.