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19 Dec, 2016

EIB GRANTS 2I RETE GAS A 225 MILLION EURO LOAN FOR THE PROGRAMME OF DEVELOPMENT AND UPGRADING OF GAS DISTRIBUTION NETWORK

Today 2i Rete Gas S.p.A. and the European Investment Bank (EIB) have signed a 10-year 225 million Euro loan agreement for the financing of technological upgrading and development of the natural gas distribution network, supported by the European Fund for Strategic Investment (EFSI) under the ‘Junker Plan’.

The programme is part of the company’s on-going investment programme to expand and upgrade its gas distribution networks in its concession areas throughout Italy.

The programme will allow 2i Rete Gas to consolidate its gas distribution networks to further enhance safety and reliability, and to expand networks to meet the demand for new connections. The planned investments, for the extension, replacement and technological upgrading of the network and its infrastructure are also in line with regulatory requirements.

The loan is in addition to the 200 million euro already provided by the EIB in 2015 for the development of the smart meters project.

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