Home / BUSINESS / Softronic gets EUR 14 M financing from Raiffeisen Bank, secured by EximBank, for the production of electric locomotives

Softronic gets EUR 14 M financing from Raiffeisen Bank, secured by EximBank, for the production of electric locomotives

Raiffeisen Bank will grant EUR 14 million financing, secured by EximBank, to Romania-based Softronic company in Craiova. The credit is destined to cover the costs of production and delivery of six electric locomotives, which will be purchased by Green Cargo AB company, Sweden’s largest actor in rail freight.

In June 2017, Softronic signed a contract worth EUR 6 million with Green Cargo to deliver eight Transmontana locomotives. The first two have already been produced and delivered, and they are under the final testing stage. The next 6 locomotives, whose production is financed by Raiffeisen Bank, will be delivered starting the end of 2019 until mid-2020. Softronic is the only electric locomotive producer in Eastern Europe.

The most advanced electric locomotive built in eastern Europe, Transmontana is certified by both the Romanian Railway Authority and the Hungarian Railway Authority. The locomotive can reach speeds of over 200 km/h and is equipped with a new metallic structure, asynchronouse traction motors, regenerative breaking, IGBT electric converters, LED lights and electronic command and control equipment.

“At present, Softronic has the capacity of producing about 9-10 locomotives per year. LEMA locomotive is an original project of Softronic, with the first item being made in 2010. Until now we have made 36 locomotives especially destined to the rail freight operators. Our locomotives have been on the railway in Romania, Hungary, Slovakia and recently, Sweden. For the passenger transport, we make the Hyperion electric train,” said Radu Zlatian, R&B manager Softronic.

We are financing the production and export of our Softronic partner for we want to support the Romanian economy to be competitive on any market. We have all the necessary ingredients for success in this transaction-creativity, production capacity and implementation, as well as performing management, the outlet and the highest quality products”, said in his turn Cristian Sporis, Corporations vice-president  Raiffeisen Bank.

About Alina Grigoras Butu