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Garanti Bank grants 14 mln lei (3 mln euro) loan to Romania's Softronic
Garanti Bank Romania, part of Turkish financial group Garanti, said on Thursday it has granted a 14 million lei ($3.7 million/3 million euro) loan to Romanian electric trains and locomotives producer Softronic, seenews.com reports.
Softronic will use the loan to finance the production of its electrical multiple unit train Hyperion 3, the bank said in a press release.
The new train will be launched in the second half of 2018.
Hyperion is the first electrical multiple unit train in Romania and is recommended for regional, interregional or intercity transport. Hyperion 3 will be the third Hyperion model. The first one was launched in 2014, when Garanti Bank granted a 20 million lei loan to Softronic for its manufacturing.
“We are proud to once again join forces with Softronic for the manufacture of this state of the art train. Garanti Bank is a strong supporter of the Romanian business environment and of ambitious and innovative projects, such as Hyperion 3, that contribute to the sustainable development of the local economy," Garanti Bank Romania deputy general manager Cagri Memisoglu said.
The train can reach a maximum speed of 160 km/h and includes state-of-the-art railway equipment, produced by companies such as ABB, Knorr Bremse, Lucchini, Voight, Ultimate, etc.
Headquartered in Craiova, in southern Romania, Softronic is the only manufacturer of Electric Multiple Unit trains and electric locomotives in Southeastern Europe.
Garanti Bank is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing and Garanti Consumer Finance.
Garanti Bank is held by Turkiye Garanti Bankasi AS (TGB), Turkey’s second largest private bank.