June 7 (SeeNews) - Romanian state-controlled drug maker Antibiotice [BSE:ATB] said on Wednesday that it will invest 13.7 million lei ($2.9 million/2.7 million euro) in a solar park built by Enel X Romania, part of Italian energy group Enel.
Antibiotice obtained some 4 million lei in state financing for the project through the National Plan for Recovery and Resilience (NPRR), with the difference to be covered from the company's own sources, it said in a report filed with the Bucharest Stock Exchange.
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In December, Enel X Romania said it will build for Antibiotice a solar power plant with a total installed capacity of 2.5 MW.
The solar park will comprise 4,680 panels which will span a surface area of over 31,000 sq m and cover 26% of the drug maker's electricity needs.
Antibiotice Iasi is a state-owned pharmaceutical company that develops and produces 157 generic drugs for human use, veterinary drugs and Nystatin, an active ingredient. The company employs over 1,300 at its research centre and production facilities in Iasi.
The Romanian state through the health ministry holds a 53% stake in Antibiotice, retail investment fund SIF Oltenia owns 26.9% and the rest is in the hands of small shareholders.
Antibiotice's shares traded 0.66% lower at 0.6060 lei as of 1205 CET on Wednesday on the Bucharest bourse.
(1 euro=4.95942 lei)