Romania | News

Electromontaj, which specializes in constructions for energy projects, has completed the takeover of the majority 82,68% stake in Electrotehnica Echipamente Electrice, Romania’s oldest producer of electrical equipment, transformers and coils.

Artur Cirjevski, CEO of Food Union Group in Europe, a group that owns Alpin 57 Lux, a maker of ice cream, frozen vegs and bakery products, says the group has carried out large investments in Romania and this year plans to develop the sales infrastructure, with investments revolving around EUR1 million.

Romania's Minister of Energy Virgil Popescu met with the President of the US Exim Bank, Reta Jo Lewis, who reiterated their support for strategic investments in the development of the civil nuclear program in Romania.

BlackCab, a provider of alternative transport services in Bucharest, Timisoara, Cluj and Constanta, plans to expand its services to other cities of Romania.

Romania will receive 6.75 billion euros from Cohesion Policy in 2021-2027 in the framework of its Partnership Agreement with the Commission to promote its green and digital transition.

CC Trust Group, a family business founded and owned by Swiss entrepreneur Claudio Cisullo, has entered Romania’s energy efficiency market with a franchise in the field of smart buildings.

Modern stock of industrial and logistics space reached 5.6 million square meters at the end of last year, putting Romania on the third place as a I&L market among the 15 largest economies in the Central and Eastern Europe, a report of real estate consultant Colliers says.

Cooperativa Gradina Noastra of Brezoaiele, Dambovita county, having an 85-ha area cultivated with cabbage and potatoes, and Cooperativa Gradina Noastra of Insuratei, Braila county, currently having a 70-ha area cultivated with water melons, are set to deliver around 10,000 of freight to French retailer Carrefour, which has over 370 stores in Romania.

Romania’s housing market in 2021 broke the previous record in terms of new housing units delivered in one year, going beyond the threshold of 71,000 new completed houses and apartments, in line with data recently published on Tempo platform of the National Statistics Board.

Private consumption increased in the second quarter of 2022 compared with the year-ago period, while investments followed a downward trend, which makes a decisive impact on the decline of the annual GDP dynamics, partly because of the sizeable drop in construction works in April, Romania’s central bank says in its monetary policy meeting minutes.

The annual inflation will increase until the middle of the third quarter of 2022, yet at a visibly slower pace, Romania’s central bank monetary policy meeting minutes show.

Romania’s public debt, in both lei and foreign currency, increased to more than RON600 billion in April 2022 from RON594 billion in March and to 49.2% of the GDP, Finance Ministry data show.

Mayr-Melnhof, a major player on Romania’s packaging production market, is investing to expand its production capacity and warehousing spaces in Ploiesti. The company has an over EUR10 million budget for investments, but not all the money is destined to the warehouse.

Scandinavian retailer of furniture and home products JYSK continues expansion in Romania with a new store in Sovata, Mures County, set to open on Thursday, July 21 for a total of 124 in the country.

Romania’s power consumption was 5.2% lower in the first four months of 2022, as households used 3.2% less electricity and industrial consumers 6.4%, a report of Romania’s energy market regulator ANRE shows.

Polish discounter Pepco has reached a 285-unit network in Romania, making the local market the second most important for the retailer after the country of origin, Poland.

Agroland Business System (AG.RO), the Romanian retail, agriculture and food entrepreneurial group which owns the largest network of agricultural stores in Romania, announced in a stock market report on Thursday (July 14) the opening of the 20th Agroland MEGA store in Romania.

The number of real estate companies grew by over 20% over the last four years across Romania, reaching a total 18,653, in line with data from the National Trade Register.

The third edition of 2022 Start-Up Nation program in Romania starts on July 19 with a total budget projected at RON2.2 billion.

TeraPlast, part of TeraPlast Group, the largest polymer processor in eastern Europe, has become a member of the Professional Association of Cable Manufacturers in Romania (APPCR).