November 7 (SeeNews) - Raiffeisen Bank will provide a 14 million euro ($16 million) loan guaranteed by Romania's EximBank to local electric trains and locomotives manufacturer Softronic, EximBank said.
Softronic will use the proceeds of the loan to finance production and delivery costs of six electric locomotives it will manufacture for Sweden's Green Cargo company, EximBank said in a press release on Tuesday.
State-owned EximBank will be issuing guarantees in the name and on behalf of the Romanian state for the loan.
In June 2017, Softronic signed a contract with Green Cargo railway operator for the delivery of eight Transmontana locomotives. The first two locomotives have already been manufactured and delivered.
The next 6 locomotives, whose production will be financed by Raiffeisen Bank, will be delivered at the end of 2019 and by the middle of 2020.
"So far, we have manufactured 36 locomotives designed especially for rail freight operators. Our locomotives circulate on Romanian, Hungarian, Slovak and, more recently, Swedish railroads," said Radu Zlatian, director research and development at Softronic.
Transmontana has a modern design and owns railway traffic authorizations in Bulgaria, Romania, Hungary, Slovakia and Sweden.
Headquartered in Craiova, in southern Romania, Softronic is the only manufacturer of electric multiple unit trains and electric locomotives in Southeast Europe.
($=0.8707 euro)
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