Agrigas update9 Jul 2020 08:29
Agrigas update
As part of its projects and commercial update on 28 May 2020, the Company announced that, in relation to its Agrigas project in Greece, at the request of the bank offering the project finance to the project, one of Greece's leading banks, a full project technical due diligence report, completed by TUV Hellas, the nominated engineer of the bank, and third party financial due diligence, carried out by EY Greece, was completed and provided to the bank.
The Company has now been informed by its local partners in Greece that a leading Greek bank has approved the funding for the project, subject to terms and conditions which will be incorporated in formal legal documentation. Subject to finalisation of legal documentation, this is now expected to enable financial close on the project and the Company will provide further updates in due course.