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29.10.2013
12:06

$195.2 million credit for modernization of thermal power plant in Ecuador

Within the framework of the visit to Moscow of the President of Ecuador Rafael Correa Delgado the Credit Agreement for $195,239 million was signed to finance the modernization of “Termogas Machala” thermal power plant. The Agreement was signed by Vnesheconombank, Gasprombank and Eximbank of Russia on the Russian side and the State energy company CELEC EP on the Ecuadoran side.

Eximbank of Russia is the Arranger of the syndicated loan, one of the Original Lenders, the Agent and the Security Trustee.

The total cost of the joint Russia-Ecuador project, secured by sovereign guarantees from both sides, is about $230 million.