"We are expecting some €400 million to enter our accounts, from [Italian group] Enel, for Electrica Muntenia Sud. After we receive that money, we can borrow some €1 billion to develop the company. We are seriously considering this possibility," the company's General Manager, Corneliu Stan, told Business Standard.
Enel recently purchased Electrica Muntenia Sud, one of Electrica's subsidiaries.
Electrica is the third large company locally announcing the possibility to loan more than €500 million. In December last year, state-owned Hidroelectrica, the country's largest electricity producer, said it could borrow up to €2 billion to finance the construction of new production capacities.
The funds Electrica might borrow are to be used to secure more individual subscribers and to start electricity production. "We have to increase the supply quality and allocate funds to lower our own technological consumption," Stan said. The company has some 3.6 million subscribers.
