Tomen seals loan

Japan`s Tomen Corp. has signed a syndicated loan with several Hungarian banks for financing the construction of a combined heat and power plant in Ujpest, Hungary. The deal underline`s Tomen`s commitment to building up its presence in Europe.

Tomen is the first Japanese company to win project financing in Hungary. The 110 MW power plant will be constructed by power company Budapesti Eromu Rt.