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Slovenské Elektrárne will not borrow money to complete Mochovce

Slovakia's dominant power producer Slovenské Elektrárne (SE) will finance the completion of the third and fourth units of the Mochovce nuclear power plant (EMO) from its own resources.

Slovakia's dominant power producer Slovenské Elektrárne (SE) will finance the completion of the third and fourth units of the Mochovce nuclear power plant (EMO) from its own resources.

The completion should cost about Sk62 billion.

"The company managed to improve its performance so much that we do not have to borrow for the main investment project, which is the completion of Mochovce," a source close to the company management told the SITA newswire.

Therefore, SE does not plan to use a seven-year revolving loan of €800 million for the EMO completion, which they signed with nine local and foreign banks last October.

SE spokesman Juraj Kopřiva neither denied nor confirmed for SITA that the company would finance the Mochovce completion from its own resources.

"We have signed a €800 million line of credit and we have not started drawing it yet. We plan to use about Sk26 billion for smaller investment projects, not for Mochovce," he said.

Kopřiva did not specify whether SE planned to take another loan for the Mochovce completion. But SE director general Paolo Ruzzini told the Pravda daily that the firm did not plan to do so. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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