Luxembourg, 08/12/2000 (Agence Europe) - The European Investment Bank is providing two loans to Argentina, in the context of cooperation policy between the European Union and Latin America:
A loan of $50 million (EUR 58 million) is granted to Pluspetrol Energy to expand its gas-fired power plant in Tucumán (Argentina) and to convert it into a combined cycle plant. Pluspetrol Energy is held equally by Spanish company Repsol, through its Argentinean subsidiary, Astra, and by Argentine shareholders through Pluspetrol Resources Corporation, a private oil and gas company created in 1977. The loan is guaranteed by a banking consortium.
A loan of $14.4 million (EUR 16.6 million) is granted to Rayén Curá to expand the production capacity of its existing plant located in Guayllamen, in the Argentinean Province of Mendoza. Held at 60% by the French group Saint Gobain and at 40% by Cristalerias Chile, the company produces recipients for food and beverages. The loan, to run for six years, is guaranteed by "Société des Participations Financières et Industrielles", the main European subsidiary of the Companie de Saint Gobain SA France.