Romania's Hidroelectrica Sees Gross Profit Surging to 110 Mln Euro in 2010

Romanian state-run hydropower producer Hidroelectrica sees its gross profit surging to 110 million euro ($148 million) this year from some 15 million euro in 2009, local daily Ziarul Financiar reported on Tuesday. "The main challenge next year will be costs cutting. We aim to reduce costs by 10%," Ziarul Financiar (www.zf.ro) quoted Hidroelectrica's head Mihai David as saying. He added that the company has signed a 50 million euro loan agreement with Romania's top bank, BCR, to finance the ...

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