Distrigaz Sud signs 21m euro deals with Italians

Distrigaz Sud has recently closed two contracts worth 21 million euros with Italy-based CPL Concordia Group Italia and Pietro Fiorentini for upgrading its infrastructure and for buying equipment, sources on the market told Ziarul Financiar. The funding for the two contracts will be covered 85% with loans taken from Banca Popolare di Lodi, one of the most powerful private Italian banks, while Distrigaz will come up with the rest. Distrigaz Sud, which is in need of investments to upgrade its infrastructure, is undergoing privatisation at the moment, with the State set to sell 51% in it. Enel (Italy), Gaz de France (France), Gazprom (Russia) and Ruhrgas (Germany) are the suitors that submitted expressions of interest for it. ZF