Spectator on facebook

Spectator on facebook

MOL takes €120 million loan from EBRD for Slovnaft investment

The Hungarian-based oil refiner MOL signed a contract with the European Bank for Reconstruction and Development (EBRD) on July 3 for loan of $150 million (€120 million) over an 8-year term with a view to construct new facilities at the Slovnaft refinery near Bratislava, Slovnaft spokesman Anton Molnár informed the TASR newswire. The loan will be used to finance capital expenditures linked to the construction of a new polyethylene unit and the reconstruction of the ethylene unit at Slovnaft, a subsidiary of the MOL Group.

The Hungarian-based oil refiner MOL signed a contract with the European Bank for Reconstruction and Development (EBRD) on July 3 for loan of $150 million (€120 million) over an 8-year term with a view to construct new facilities at the Slovnaft refinery near Bratislava, Slovnaft spokesman Anton Molnár informed the TASR newswire.

The loan will be used to finance capital expenditures linked to the construction of a new polyethylene unit and the reconstruction of the ethylene unit at Slovnaft, a subsidiary of the MOL Group.

It was announced last week that Slovnaft and a consortium of Tecnimont (Italy) and Tecnimont Planung and Industrieanlagenbau (Germany) had signed a contract to build a new polyethylene unit costing €204 million. This will increase polyethylene production capacity at Slovnaft by around 40,000 tonnes to 220,000 tonnes. The construction work is due to start in 2013 and production should begin in 2015.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Slovak Christmas - traditional and new Photo

A chain around the table legs and waiting for a golden pig. Some old Christmas traditions survive to this day and others have disappeared.

Culture minister resigns from post as deputy chair of Smer

His replacement is expected to be elected at the December party congress.

Culture Minister Marek Maďarič

Peace, joy and good cheer pack a punch in the streets of Bratislava and its regions. Wassail! Photo

As well as the city centre, individual boroughs are hosting Christmas markets this year; the nearby Schloss Hof is offering a Christmas programme too.

Christmas atmosphere on Hviezdoslavovo square

Sledging run opens in the High Tatras Photo

The sledge track will be 2.5 kilometres long, all the way from Hrebienok to Starý Smokovec.

Hrebienok-Starý Smokovec sledge ride