Kyivenergo Asks World Bank To Prolong Heating Rehabilitation Project.
28 October 2008
Kyivenergo (KIEN: BUY) and the Kyiv administration have asked the World Bank to extend its deadline for financing the Kyiv heating network rehabilitation project from the end 2006 to the end of 2008. Concorde Capital: KIEN has only spent USD 81 mln of its USD 160 mln World Bank credit line. Prolonging the terms of the heating network reconstruction project will allow KIEN to acquire the cash needed to successfully rehabilitate all objects in the heating network.
