EIB Backs Snam Natural Gas Projects With €365M In Loans

Law360, New York (October 24, 2013, 3:38 PM EDT) -- The European Investment Bank has approved €365 million ($503.8 million) in loans to Italian natural gas infrastructure company Snam SpA to finance natural gas projects undertaken by its subsidiaries Italgas SpA and Snam Rete Gas SpA, the bank announced Thursday.

Italgas, which distributes natural gas to consumers, will receive a €300 million loan to upgrade technology and make infrastructure repairs, the bank said in a statement. The project includes the installation of a remote meter-reading system as well as the gradual replacement of meters and pipes....
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