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Dec 13, 2007 15:21 EEST
December 13 (SeeNews) - Romania's Hidroconstructia signed a 60 million euro ($88 million) syndicated loan agreement with the Romanian unit of French banking group Societe Generale, BRD, to support its medium-term development, the bank said on Thursday.
"BRD-Groupe Societe Generale as a mandated arranger has signed a syndicated loan worth 60 million euro with Hidroconstructia to finance and guarantee company's medium-term projects development", it said in a statement.
The lending consortium includes the Luxemburg-based subsidiary of Greece's Eurobank EFG, Romania's arm of Dutch ABN AMRO Bank, Banca Romaneasca, majority-owned by the National Bank of Greece, and Austrian Volksbank's Romanian unit.
Hidroconstructia, established in 1950, is active in hydro-energy and hydro-technical construction. Its turnover topped 237 million euro in 2006, more than 46% up on the year. Its net profit almost doubled last year to some 17.4 million euro.
The company's portfolio consists of medium-term contracts worth over 900 million euro.
($ = 0.6811 euro)
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