EBRD Considers EUR 30 M Loan for Bulgaria Gas Company

The EBRD announced that the project’s objective is the construction and operation of 1 700km of gas distribution pipelines. Photo by taksanndt.com

The European Bank for Reconstruction and Development (EBRD) has announced that it is considering a EUR 30 M loan to Citygas Bulgaria AD, the holder of a concession to develop and operate the gas distribution network in the Bulgarian region of Trakiya.

Citygas is 90,22% controlled by Gruppo Societa’ Gas Rimini Spa, an Italian gas distribution and supply utility.

The EBRD announced that the project’s objective is the construction and operation of 1 700km of gas distribution pipelines and associated infrastructure that will provide a gas connection to over 1 000 industrial clients, 1 500 commercial clients and 96 000 domestic users.

They added that “the project will contribute to the gasification of Bulgaria, providing the background for economic growth and market development in the region of Trakiya, as well as contributing to move the country away from the use of less efficient and more polluting fuels.”

The EBRD final decision on the loan is set to be taken in a board meeting on March 23 2010.