Electrica’s shareholders approved the company’s Craiova investment project, which involves the construction of facilities for generating electricity and heat for the city’s centralized district heating system and for industrial customer Ford Otosan Romania.

The total investment is estimated at up to 235 million euros, excluding VAT, for the two facilities, according to a report submitted to the Bucharest Stock Exchange.

The Craiova project includes the construction of electricity and heat generation capacities, auxiliary and related equipment and facilities, an internal power network, an electrical substation, and site fencing.

The project comprises two main facilities: CET SACET, designed to provide heat for Craiova’s centralized district heating system, and CET Ford Otosan, intended to supply the heat required for heating and technological processes at Ford Otosan Romania.

Electrica’s shareholders also approved the contracting of one or more loans totaling up to 250 million euros. The financing will be used to fund the investment works required to complete the energy-generation capacities included in the Craiova project.