Spectator on facebook

Spectator on facebook

CORPORATE NEWS

ZSE is choosing a bank to provide a loan for finishing PPC

Paroplynny cyklus Inc., Bratislava (PPC), owns the future steam-gas power plant in Bratislava with an electricity producing power of 214 MW and heat power of 220 MW. Total projected costs for the project are 3.2 billion Sk, plus expenditures for labor. PPC's stockholders are ZSE(Western Slovak electricity distribution co., 66 percent), SPP (Slovak Gas Co., 24 percent) and SE (Slovak Power Plants - electricity producer, 10 percent). The main supplier is Siemens. Although construction of the power plant has already commenced, its financing is still not resolved. (ZSE has paid the down payment for Siemens from its own funds). So far ZSE has signed a contract with ING Bank for a syndicated loan to finance the project. At present, PPC is holding negotiations with ING Bank and First Boston Bank about a loan with a guarantee by SE and future guarantee by ZSE(after ZSE is transferred into a joint stock company, which will come on January 1, 1997). The loan will have an interest rate of the LIBOR plus 1 percent maximum. The original 155 million DEM value of the loan was increased to 170 million DEM. According to ZSE director J._ajkoviŹ, "the best offer so far has been made by First Boston Bank, we are, however, continuing our discussions with ING Bank. PPC has until approximately the end of this year select one of these financing alternatives. First Boston Bank is ready to provide the loan within six days after ZSE transforms into a joint stock company. The deadline for completion of the construction of the power plant, December 31, 1997, is likely to be maintained."

Top stories

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

Illustrative stock photo

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.