Brief: Turcas Petrol unit TBK to start commercial operations in Kuyucak in Q3 of 2017

Turcas Holding

01/03/2016 12:36

March 1 (Reuters) - Turcas Petrol  TRCAS.IS  
    * 46% indirect subsidiary Turcas BM Kuyucak Jeotermal 
Elektrik Üretim signs 15 million euros ($16.31 million), $40.5 
million cash, and 10 million Turkish lira in non-cash credit 
agreement with Türkiye Snai Kalknma Bankas (TSKB) 
    * The credit is with 30 months grace period and 14 year 
maturity 
    * Unit Turcas BM Kuyucak to use the credit for financing of 
its geothermal power plant investment amounting to $71 million 
and 250 thousand (including financing costs) and planned to have 
an installed capacity of 16 MW  in Aydin 
    * Mentioned investment's first phase (8 mw) and second 
phase (8 mw) are planned to start commercial operations in Q3 of 
2017 and Q3 of 2018 respectively 
 
Source text for Eikon:  ID:nIKAhyq35a  
Further company coverage:  TRCAS.IS  
 
($1 = 0.9200 euros) 
 
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