$10m Paroseni-based Polish business

Polish mining equipment supplier Kopex signed an over $10.5 million deal with Toshiba to provide the equipment required by the modernisation project for the Paroseni electrical power plant, sources involved in this project say. The Japanese Itochu-Hitachi-Toshiba consortium will carry out the rehabilitation works on the CET Paroseni’s station four and on the hot water transport and supply network, with Termoelectrica as beneficiary in this case. The Industry and Resources Ministry, the owner of Termoelectrica, last year took an about $124 million loan from the Japanese Bank for International Co-operation (JBIC) and from BNP Paribas’ Tokyo branch to finance this project. The loan is secured by the Public Finance Ministry and will be aimed at retooling station four (150MW) of the Paroseni power plant. More than 75% of the financing comes from JBIC. ZF