Romania, FIEKR said that it has secured 24 million euros loan from OTP Bank

, SEE Energy News

The Kazakh-Romanian Energy Investment Fund (FIEKR) said that it has secured 24 million euros loan from OTP Bank Romania for the development of 23 petrol stations.

The statement from the fund said that the financing granted to KMG Rompetrol Development, the investment vehicle of the fund for the retail segment, has a maturity of eight years.

Operated by Rompetrol Downstream under the Rompetrol brand, the new petrol stations will sell fuels exclusively produced by the Petromidia Navodari refinery.

FIEKR currently owns a network of 40 petrol stations and aims to expand it by 44 new units in the next five years.

OTP Bank Romania recently took part as a co- financing bank in granting a syndicated loan in the amount of 83 million euros for another FIEKR – the construction of a cogeneration plant on the Petromidia Navodari platform.