OREANDA-NEWS. March 28, 2013. Acting Economy Minister Valeriu Lazar briefed this and added that there had been an arrangement to implement a project with the budget of USD40 mln. under support of the World Bank in the energy sector. At the first phase of the project, stipulating enhancement of the heat-and-power facilities, the World Bank will provide Moldova with a concession loan for 20 years and with a 5-year long grace period.

The money will be spent on elimination of heat distribution losses, modernization of equipment, etc. According to Valeriu Lazar, thinks to these funds, the heating-and-power facilities of Chisinau will be modernized without raising consumer tariffs. He specified that the loan agreement with the World Bank may be signed in 2014 after reorganization of the heating-and-power facilities of the municipality. Valeiru Lazar also expressed satisfaction with cooperation with municipal authorities of the capital in this context.

The reorganization is expected to be completed by this autumn. As it was said earlier, the government of Moldova and the Municipal Council of Chisinau adopted the document on corporate, institutional and financial restructuring of the central heating facilities in the municipality of Chisinau. Shares in a new enterprise to be formed will belong to the government of Moldova represented by the Economy Ministry and the Municipal Council of Chisinau.

Merging assets of the three enterprises, namely Heating Station 1, Heating Station 2 and Termocom, and creating a new one will allow to ensure attraction of new investments, adoption of new technologies in production, transportation, distribution and supply of heat as well as to find a solution to the problem of arrearage of Termocom.