Portuguese road management company 1410 Estradas de Portugal (EP) received government loans totalling €851.3 million between January and September 2012, bringing the firm's total debt to €2.7 billion in the third quarter of 2012.
The amount lent to EP was part of a €2.25 billion sum lent to a variety of non-financial state-owned companies in the first nine months of this year. However, the loans equated to less than half the amount granted by the government in loans to non-financial state-owned firms in the same period of 2011.
The loans have been attributed to the lack of finance available from banks.
The amount lent to EP was part of a €2.25 billion sum lent to a variety of non-financial state-owned companies in the first nine months of this year. However, the loans equated to less than half the amount granted by the government in loans to non-financial state-owned firms in the same period of 2011.
The loans have been attributed to the lack of finance available from banks.
