This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at El proyecto Sines de La Seda de Barcelona obtiene un crédito puente de 95 millones

The Sines of the Silk of Barcelona project obtains a 95 million bridging loan

06/05/2010

May 6, 2010

La Seda Barcelona has received a bridging loan of EUR 95 million of Caixa Geral that go to the immediate resumption of construction of the plant in Sines (Portugal), which will have a production capacity of 700,000 tons per year of PTA. The works calendar, suspended from the month of September 2009, has restarted its activity in early May.

The bridge loan is part of the Project Finance of EUR 371 million, formalized by the end of January, 2010, and that it will be disbursed after the implementation of the expansion of the company's social capital.

The new resources guarantee the achievement of the commitments of the company with respect to the draft Sines: revive the works plan for facilities - which will be integrated into the Group silk as Artenius Sines - and facilitate the implementation of the construction deadlines in order to start your business operational during the second half of 2011.