Romgaz received a new tranche, of 115 million lei, for the Iernut Power Plant

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Bogdan Tudorache

Romgaz received the second tranche, of 115 million lei, out of the total of 320 million provided for the co-financing through PNI of the construction of the Iernut power plant.

”The National Natural Gas Company“ Romgaz ”S.A. inform shareholders and investors about it to the fact that the Ministry of Economy, Energy and Business Environment transferred the amount of 115,027,026.77 RON representing Rate 2 related to the Financing Agreement no. 4 / 07.12.2017 for the investment “Combined cycle with gas turbines” – Iernut “, is shown in the company’s report, submitted to Bucharest Exchange.

“Contract no. 4/ 07.12.2017 was concluded in the context of non-reimbursable financing in the amount of maximum RON 320.90 million, from the account of the National Investment Plan (PNI), for the investment combined with gas turbines.”

The Iernut plant should be ready, according to the latest schedule, by the end of this year. However, the 268 million-euro project has suffered numerous delays, caused by frequent legislation changes and by the pandemic.

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