The Romanian Business Newsletter

Business May 11, 2009

• Romanian oil company Petrom will invest €500 million in the development of an 86 MW electrical energy power plant in Petrobrazi, Prahova County.
• American mobile electronics and transportation systems manufacturer Delphi Diesel Systems invested €100 million in the development of a 16 ha factory in Miroslava, Iasi County.
• Slovenia’s Port Koper, in partnership with four logistics companies (Luka Koper, Trans Logistics, Bilk and Kombi Terminal) will invest €15 million in the development of a railway terminal for container transport in Curtici, Arad County.
• German retailer Praktiker invested €11.1 million in opening in its 26th Romanian unit in Focsani, Vrancea County.
• Greek bakery and confectionary products manufacturer and distributor Karamolegos Bakery invested €10 million in the development of a production complex in Popesti-Leordeni, Ilfov County.
• Romanian medical centre Elim will invest an estimated €3 million in 2009 in the development of three medical clinics in Bucharest and in Arges and Olt counties.
  Romanian lead producer Romplumb will invest an estimated €2.8 million in 2009 in the improvement of its working environment, in the development of ecologic projects, and in equipment repairs.
• Hungarian telecommunications service provider Euroweb will invest €2 million in 2009 in the development of access solutions and infrastructure projects.
  Greek restaurant chain Epitome invested €1 million in the development of a 1,200 m² luxury restaurant in central Bucharest.
  

Real Estate

• Israeli real estate developer Israel Land Development Company will invest €243 million in the development of a 1,476 unit residential project in northeastern Bucharest (€170 million investment; €1,200-1,300 per m²) and two commercial centres in Ploiesti, Prahova
• County (€55 million investment; 35,000 m² rentable surface, 70% already pre-rented) and Giurgiu (€18 million investment; 20,000 m² rentable space).
• Austrian investment fund Immoeast bought Eyemaxx's interest of 50% in two logistic projects in Ploiesti, Prahova county and Timisoara, Timis county, for an amount estimated at some €10-15 million. Immoeast now owns 100% of the two logistic projects.
  

Miscellanea

• Until May 15, individual taxpayers subject to income tax in Romania can allocate 2% of their annual income tax to Romanian associations, foundations and NGOs. For more information on this issue, please send us an e-mail by clicking here.
• Romanian expat services company CityCompass is offering its "Getting Things Done in Romania" business workshop on May 20, 2009 at the Athenee Palace Hilton Hotel; reservations are now being taken.