EBRD and Srbijagas sign 150-million euro loan for gas pipelines
(BELGRADE) - The European Bank for Reconstruction and Development (EBRD) and state-owned Srbijagas inked a deal for a 150-million-euro (205.4-million-dollar) loan on Thursday for reconstruction of gas pipelines in Serbia.
The loan will be used "to finance the upgrade of the country's gas transmission network and the construction of a new gas storage facility," said Srbijagas, which is in charge of transmission, storage, distribution and trade of natural gas in the Balkans state.
The storage, to be built at Itebej gas fields in northern Serbia, will have a capacity of up to one billion cubic meters. Plans for the loan were announced last week but Thursday the parties finally signed the deal.
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