ECONOMICS - August 14 2004
The investors interested in taking over Electrocentrale Galati will be able to choose: buying all the stocks of the company or building, alongside the actual owner, Termoelectrica, a new plant for producing heat and electricity.
By CATALIN BUDESCU
JOINT COMPANY. Besides selling the stocks owned at the Electrocentrale and Termoserv, Termoelectrica also proposes the building of a co-generating output (an output that produces electricity and heat jointly). If the investors will prefer this option, a separate joint company will appear and work as an independent energy supplier. Termoelectrica should own a part of the social capital of the new plant, which is to be represented by the Electrocentrale Galati assets that are necessary for this new target.
The financing of the entire project is to come from the investor, by capital funding at the new created company, and by the credits appointed by him. "The companies with experience in developing, financing and working with similar projects are expected to submit commitment less advice letters in a 20 working days time starting from now", says the privatization announcement.
Translation: SORIN BALAN