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EBRD May Lend $257M For Polish Project

European Bank for Reconstruction and Development is likely to grant a $257.2 million loan to a joint venture of Polish gas monopoly PGNiG and utility Tauron.

    European Bank for Reconstruction and Development(EBRD) is likely to grant a $257.2 million loan to a joint venture of Polish gas monopolyPGNiGand utilityTauron,Reutersreports. The funding will be provided for the groups joint gas-fired power operations.

    The credit facility will help build and run a combined cycle gas turbine unit, which will be situated in Stalowa Wola in Poland. The project is set to be completed in the next three years.

    Click here for the story fromReuters.

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