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Article: HUNGARY-COMPANIES-TVK.
- Article from:
- Hungary Business News
- Article date:
- September 19, 2002
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TVK and Emasz set up joint company for power plant project - OTP provides financing
Budapest. September 19. INTERFAX-EUROPE - TVK Eromu Kft, a joint venture of chemical firm TVK (24%) and local electricity distributor Emasz (76%) have signed an EUR 40 million 15-year credit line agreement to finance a power plant project, the parties announced Thursday.
OTP will finance 75% of the EUR 53.33 million costs of the 34 MW gas-fired combined-cycle plant, with the remaining 25% financed by the company's owners. Besides the credit line, OTP will provide a HUF 2 billion VAT loan and a EUR 1 million working capital credit facility.
The credit line and the ...