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SE gets seven-year loan worth €800 million

Electricity provider Slovenské Elektrárne (SE) announced on October 22 that it had taken out a seven-year revolving-loan contract worth €800 million. This represents the greatest company-financing project in the history of Slovakia.

The SE will use the loan to cover the financing of its investments, which are expected to reach Sk110 billion (€3.27 billion) by 2013, company officials reported at a news conference in Bratislava. The loan is aimed at common needs related to financing SE's projects, and the company got the loan without its mother company Enel (Italy) backing it.

SE's General Manager Paolo Ruzzini says that the most important of all Slovakia's energy projects is to see construction of the 3rd and 4th blocks of the nuclear plant in Mochovce completed. However, the loan is meant to cover other investment projects as well. The loan, signed between SE and several banks, is supposed to be drawn as of 2008. TASR

Compiled by Zuzana Vilikovská from press reports
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