Bank financing was provided for the construction of Balkan Stream in the form of a secured loan of EUR 200 million. This was reported by Bulgartransgaz. The system operator announced that it had successfully completed the loan procedure, BTA reported.
Bulgartransgaz states that the funds will be used to cover the investment costs of the company in connection with the implementation of the Balkan Stream project on the territory of the country. In particular, the secured loan will be used for advance payments to the companies involved in the realization of the project – Consortium Arcad Association, as well as DZZD Ferrostaal Balkangaz, according to Novinite.com.
The company informs that it has already signed contracts with some of the largest international financial institutions.