Economics

The European Bank for Reconstruction and Development (EBRD) arranged a 57 million euro loan with LUKERG Renew, a joint venture between ERG Renew (part of Italian group ERG) and LUKOIL- Ecoenergo (Russia), for a 84 MW wind farm located in southeastern Romania - Dobrogea region, states a press release. The financing is structured under the bank’s A/B loan scheme, with 38 million euro on the EBRD’s account, while the remaining amount is for the account of UniCredit....more »

Transelectrica, the domestic system and transmission
operator, announced the signing of the contract for the 400 kV overhead power
line (OHL) which will serve as a connection between Resita (Romania) and
Pancevo (Serbia). The related notificatio...more »

INSSE (the National Institute of Statistics) today confirmed the 3.8 percent increase of the Gross Domestic Product in the first quarter of 2014, compared to the same period last year, already announced by the “flash” estimates released in mid-May. Also, the GDP in Q1 was, in real terms, 0.1 percent higher than in the last quarter of the past year....more »

The domestic economy has absorbed net investment of
approximately 11.2 billion lei in the first quarter of the year, the figures
released by the National Institute of Statistics (INSSE) indicating a decline
by 7.4 percent year-on-year. The decre...more »

The first phase of the Liberty Technology project in Cluj-Napoca has been fully leased with Siemens letting 3000 sqm in the business park. Seven companies are already located there since its opening in December 2013, the domestic subsidiary of the German-based engineering group joining Halcyon Mobile, Recall, La Casa, Makronetz, Ecuson Studio, Spherik Accelerator and Tulemod, according to the project developer, Fribourg Capital. Siemens will effectively relocate one of its departments in Liberty Technology Park starting August 2014....more »

Romtelecom and Cosmote, both controlled by the Greek telecommunications group OTE, whose major shareholder is Deutsche Telekom, started negotiations with Ericsson for outsourcing the maintenance, monitoring and operation network services, announced representatives of the two companies, according to HotNews.ro....more »

Philips Lighting, the global market leader
in the development, manufacturing and application of innovative lighting
solutions, will have a new general manager as from June 16, Bogdan Balaci being
appointed to lead the operations in the Southeast...more »

Renault Twizy, the French-based car manufacturer's all-electric vehicle, is now available in Romania, after four years since the official launching. Romanians who wish to drive a Twizy will have to pay for the two-seater car a starting price of 7000 euro, VAT included, plus the monthly rate for the incorporated battery, states a press release....more »

The first four months of the year have recorded an advance both in terms of tourists’ arrivals and with regard to overnight stays in Romania, according to the data released by the National Institute of Statistics (INSSE). ...more »

Hidroelectrica announces the launch of an international open tender for the refurbishment of the Stejaru hydroelectric plant in the Neamt County – in operation since 1960, a project of 75 million euro. The state-owned company sent on May 16 the related documentation for the tender to the National Authority for Regulating and Monitoring Public Procurement for examination. ...more »
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