The European Bank for Reconstruction and Development (EBRD) will provide a senior loan of €49m towards a total project cost of €200m.

Austria-based finance group Erste will contribute the same sum again, 90% of which will be covered by the Danish Export Credit Agency (EKF).

Banca Comercială Română (BCR), a subsidiary of Erste in Romania, will provide a €27m VAT-funding loan facility.

Denmark’s