EIB loan for Gas Natural Fenosa
Wednesday 28 March 2012
The European Investment Bank (EIB) and Gas Natural Fenosa of Spain signed, on 26 March, a €150 million loan agreement for expanding the company’s distribution network. This is the second instalment of a total €500 million loan. The agreement for the first €350 million instalment was signed in 2011. The schemes financed, which will be carried out between 2011 and 2013, comprise: extension of the network; the laying of new pipelines to deliver gas from the national transmission system to the distribution networks; the installation of pressure reduction systems; and the enhancement of information systems. They will be spread across 11 Spanish regions, with 59% located in convergence regions.