Funding for project Romania’s tissue paper and corrugated cardboard maker Vrancart has secured a loan of some €16 million from local bank BRD. The secured funds are to allow the producer to increase its reliance on renewable energy sources.
Under the plan, the Romanian firm is to use the bank loan to install new photovoltaic panels fitted with a capacity of 20.5 MW, according to the information obtained by local business daily Ziarul Financiar.
The company is one of the largest producers of tissue paper and corrugated cardboard in the Romanian market.
“Vrancart is initiating this project whose impact will be significant both for the company and … the community,” according to Paul Dumitrescu, the general director of Vrancart.
Set up in 1977, Vrancart has been listed on the Bucharest Stock Exchange (BSE) since 2005.