Bancpost, through its corporate banking division, granted a facility of EUR 7.6 million to Transport Urban Sinaia, whose sole shareholder is Sinaia Local Council, the bank announced.
The funds were granted to Transport Urban Sinaia, the company managing the ski area in Sinaia, the modern cable transportation installations, the public transportation, the parking and sport facilities in the city, for a term of 10 years. It will be used to build a suspended gondola line in Sinaia between Cota 1,400 and Cota 2,000.
With some 400,000 tourists visiting Sinaia each year, the project is expected to develop the economy in the area and help reduce costs for visitors.
“We are happy that Bancpost chose to finance the most important investment project in the history of Transport Urban Sinaia. The new gondola – Gondola Carp – will have a major impact on the entire ski area of Sinaia. Thanks to this installation, we will be able to create an integrated, state-of-the-art and very safe cable transportation system up to the Cota 2000 high altitude ski track, avoiding the dense traffic caused by the current limited transportation capacities and reducing the costs of a ski day in Sinaia. The investment is in the execution stage and we are doing our best to have Gondola Carp up and running in the 2015-2016 ski season”, said Bogdan Falcescu, general director of Transport Urban Sinaia.
Bancpost is a bank present for over 24 years in Romania and having a network of 148 units, 7 corporate business centers and 5 regional retail centers. The company manages a portfolio of over 1 million corporate, retail and institutional clients. Bancpost grants funds to companies both from its own sources and through the credit lines provided in partnership with various international financial institutions.
Transport Urban Sinaia is a public company, fully state-owned, managing a patrimony of approximately EUR 35 million, consisting of: the Sinaia Ski Tracks and the artificial snow installations, the Sinaia Gondola, Sinaia Public Transportation, Sinaia Bike Resort, Sinaia Public Parking and Sinaia Sport Facilities. In addition, it also manages the Sun Chairlift and New Track Babyski.