OMV Petrom seeks to unlock oil reserves of 3.2 million barrels by redeveloping the Tazlau oil field located in north-eastern Romania, the Bacau County. The project will be implemented between 2014 and 2015 and it requires investment of about 30 million euro, the oil and gas producer announces. ...more »

The European Commission supports Romania’s broadband development, releasing 57.1 million euro funds for the Ro-NET project which totally requires investment of 69 million euro. The co-financing will be provided through the European regional development fund under the “Increase of economic competitiveness” programme, the “ICT for private and public sectors” priority axis, reads a release of the Commission....more »

Electrica will allocate about 1 billion euro for the modernization and refurbishment of its electric power distribution system, which will be executed within 2015 and 2018, stated Dumitru Federenciuc, Head of the Development Strategy Department within the company, according to Agerpres. Electrica is the leading distributor and supplier of electricity in the domestic market. The group's core business segments are the supply and distribution of electricity which is the largest one in the domestic market both in terms of volume of electricity distributed to users and number of users.  ...more »

Transelectrica, the domestic system and transmission operator, announced the signing of the contract for the refurbishment of the Bradu station, the total investment amounting to almost 29.4 million euro, without VAT according to a notification sent to the Bucharest Stock Exchange....more »

OMV Petrom celebrated the finalization of the most recent modernization programme of Petrobrazi refinery, marking the 80th anniversary of the refinery in a ceremony attended by Prime Minister Victor Ponta, Gerhard Roiss, President of OMV Petrom’s Supervisory Board and CEO of OMV, Mariana Gheorghe, CEO of OMV Petrom, among others. The modernization project run between 2010 and 2014 required investment of about 600 million euro aimed at increasing the competitiveness of the Petrobrazi installation....more »

Dedeman today inaugurates the third store in Bucharest, in Colentina district, following investment of nearly 16 million euro, according to the DIY retailer. The inauguration comes after three weeks from the opening of another store in Deva, hence the company’s national network expands to 39 units and will be further increased, as Dedeman will open a new establishment shortly, this time in Targu Jiu....more »

Siemens opens a new research and development center, this time in Cluj-Napoca, which will be operated under Evosoft brand, its subsidiary. The total investment in the IT center amounted to 4.5 million euro, announces the company that plans to hire over 200 specialists by 2017 to work in global projects for software and product development for all its divisions....more »

Vimetco Extrusion has completed an investment of 19 million lei (4.3 million euro) in a programme aimed at enhancing efficiency, as well as its competitiveness. Part of the funds, 7 million lei, was provided by the European Union through the European Fund for Regional Development as grants....more »

American company Emerson has completed an investment of 76 million dollar (nearly 56 million euro) that has been designated for extending the production and engineering operations in Cluj-Napoca and for two specialized engineering centers, reads www.monitoruldecluj.ro....more »

Vodafone Romania has opened a new IT service and support center in Bucharest to serve five telecom operators of the group from Germany, Ireland, Italy, Spain and the UK, according to Mediafax. It is Vodafone’s second regional center, following the Danubius Network Operations Center inaugurated in March 2013....more »