September
2007
FOREIGN INVESTMENTS
 
Vol. 3 No.7  
 
   
LINKS

The Diplomat Guides
Bucharest Hotel Guide 2007
Guide to the biggest names in local law - Bucharest 2009
Bucharest - International School Guide

AUSTRIA

  • Movers buy land for warehouse
    Transport and logistic company Gebruder Weiss Holding has acquired 70,000 square metres of land facing the A1 Bucharest-Pitesti motorway where it will develop the first phase of 12,000 sqm warehouse. Investment in the land and the first step of the project stands at ten million Euro.

BELGIUM

  • Two billion new coal power potential
    Energy firm Electrabel said it plans to build a coal-fired thermal power plant with an installed capacity of 2 x 800 MW in the Port of Constanta. The project of the new power-generating capacity is a greenfield investment that could exceed two billion Euro, one of the largest in Romania.

GREECE

  • Paint producer ups investment
    Paint producer Atlas Corporation has invested over 6.5 million Euro in Atlas Production Park, an industrial facility for building materials. The new platform includes two production units for extruded polystyrene, emulsion paints, decorative plasters, fillers, putties and adhesives. Atlas Production Park lies on a total surface of 72,000 square meters in Tunari on the Bucharest ringroad.

GREAT BRITAIN

  • Investors buy up Cluj plot
    Property investment company Dawnay Day Carpathian has purchased a multi-purpose development site in Cluj-Napoca for 14 million Euro, where the company will invest 60 million Euro in a mixed use project. The complex comprises a retail and entertainment area and 80,000 sqm of office spaces is estimated to be completed in 18 months.

INDIA

  • Car parts maker tipped for Romania
    Car parts maker Amtek Auto will invest 7.25 million Euro to build two plants in Romania and China respectively, said Amtek president Arvind Dham, quoted by Reuters. The firm produces steel and aluminium parts for cars.

HUNGARY

  • Pharma firm opens logistics centre
    Pharma company Gedeon Richter has opened a 6.5 million Euro logistics centre in Corunca, Mures county, on a 45,000-sqm plot, with a built surface of 13,000 sqm. This will include a 5,200-sqm warehouse and distribution centre for Richter’s Romanian unit and will employ 450 people. There is also a multi-store office building on 360 sqm, which will host Armedica Trading, an umbrella company for the subsidiaries, according to the Budapest Business Journal.

ITALY

  • Tyre giant boosts production
    Tyre company Pirelli last month said it is investing 235 million Euro to boost its production capacity in Romania and to build a new factory making diesel engine filters. The total investment includes money already spent on the construction of two factories in Slatina, Olt county, that make high performance tyres and steel cord, but a new facility will be built, with a total of 25 million Euro investment, according to Associated Press.
  • Major developer moves into housing
    Developer Cefin Real Estate will invest 56 million Euro in a residential complex of 280 apartments in the north of Bucharest on Str Horia Macelariu, scheduled for completion in 2008. The company also plans another two residential projects in Timisoara and Arad.

SPAIN

  • Multi-million city projects pledged
    Developer Gea Prasa will invest 100 million Euro in a middle upper class residential complex situated near Lacul Tei in Bucharest. Works for the project, consisting of 500 apartments, will begin this Autumn and aim for completion in 2010. The company also plans a 200 to 250 million Euro middle class residential project on Sos Viilor, Sector 5, that will be developed over six hectares. Works for this project will start in 2008.

TURKEY

  • Fruity storage near capital
    Mixed interest group Su Grubu is finalising an investment of 12 million Euro in erecting a fruit and vegetables logistics centre on the Bucharest-Urziceni road. The centre, ‘Su market’, covers over 70,000 sqm.

USA

  • Auto part giant banks on Iasi
    Automotive supplier Delphi Corporation is opening a diesel engine management system (EMS) plant on an existing industrial platform in Iasi in what could rise up to 100 million Euro in investment. This move follows demand from customers, especially in central and eastern Europe, for diesel engine management systems that are Euro V compatible. The Iasi plant will produce high-precision diesel fuel injection components, mainly pumps and injectors for common rail systems.
  • Oil services looks to further invest
    Oil industry service provider Cameron US will invest 46 million Euro in Romania. The firm took over the main stake in oil equipment manufacturer Sterom Campina in 2004 and now, under the new move, the plant will make surface goods for the Russian, European, African and Caspian markets. Construction works are set to be finalised in 2008, according to the firm, with 330 people being employed at the plant.
  • Shopping malls for east and north
    Developer Polimeni International has purchased two plots of land worth 28 million Euro in Galati and Satu Mare where it plans to build two malls. The company will build a 55,000 sqm shopping centre in Galati on 100,000 sqm land worth 20 million Euro and a 20,000 sqm centre in Satu Mare. Works will begin this year and will be completed in 2008 for Galati and 2009 for Satu Mare.

ISRAEL

  • Gold block for east Capital
    Developer Itzhar Invest is investing seven million Euro in a residential project on Blvd 1 Decembrie near Auchan hypermarket in Titan. ‘Gold Residence’ will deliver one block of flats displayed on two underground levels, ground floor and five upper floors comprising 54 apartments. The project will be completed in December 2008.

 
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