Poland's Enea signs $303.4 mln credit line with EIB

WARSAW Thu Oct 18, 2012 11:38am EDT

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WARSAW Oct 18 (Reuters) - Poland's third-biggest utility Enea has signed a 950 million zloty ($303.4 million) 10-year credit line with the European Investment Bank to finance an upgrade of its energy distribution network, the company said on Thursday.

"The programme will make possible the connection of some 25,000 new system users per year, contribute to meet the challenge of the increasing demand for services," the EIB said in a statement, adding that it would also improve reliability of the power supply by around 30 percent and help to reduce energy losses.

Local utilities aim to invest an estimated 100 billion zlotys or more by 2020 to replace Poland's outdated power plants and to create new sources of energy.

($1 = 3.1308 Polish zlotys) (Reporting by Maciej Onoszko#; writing by Dagmara Leszkowicz; editing by Jane Baird)

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