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Oct 30, 2017 18:04 EEST
October 30 (SeeNews) - Romanian gas pipeline operator Transgaz [BSE:TGN] said on Monday it has signed a one-year contract for gas transmission services with local state-owned electricity and heat producer Complexul Energetic Hunedoara (CEH).
The contract worth 2.67 million lei ($675,419/580,687 euro) has entered into force on October 1, Transgaz said on a statement filed with the Bucharest Stock Exchange, BVB.
CEH was founded in 2012 through the merger of Termoelectrica and Electrocentrale Deva and is the only heating utility serving Deva county and the Valea Jiului area, which have a total population of 50,000 people. It exited insolvency in November 2016 after 10 months of restructuring.
On Friday, the European Investment Bank (EIB) said on it is lending 50 million euro ($59 million) to Transgaz for the first phase of the EU-backed Bulgaria-Hungary-Romania-Austria (BRUA) gas pipeline project. In September 2016, Transgaz received a 179.4 million euro grant from the European Commission for the same project.
In mid-September, Romania's government, which is Transgaz's majority shareholder, requested the company to distribute 171 million lei in special dividend for 2016. The Romanian state owns 58.5% of Transgaz, while the remainder is in free float on the BVB.
Transgaz shares traded 0.76% higher at 399 lei on the BVB as at 1543 CET on Monday.
(1 euro=4.5974 lei)
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