August 8, 2014

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EBRD, EU provide extra funding for water utility company in five counties

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) via the Cohesion Fund will grant some EUR 57.5 million in funding to SC Raja SA Constanta, one of the largest water utilities in Romania. The EBRD will provide some EUR 10 million, and the EU, the rest. The company, which operates […]

TP-Link aims for USD 8 mln sales in Romania this year, up 30%

Chinese network equipment producer TP-Link plans to reach USD 8 million sales in Romania this year, up 30% compared to 2013, as the demand for such equipment on the local market is growing. “We aim to increase sales on the wireless devices market, with the Powerline adapters, but also with the mobile routers. We will […]

Romania’s Hidroelectrica to open offices in Budapest and Belgrade

Romanian state-owned electricity producer Hidroelectrica will open an office in Hungary’s capital Budapest, in September this year, aiming to expand its energy sales on the European market, said Remus Borza, the company’s legal administrator. The company will also have an office in Belgrade, Serbia. Hidroelectrica, which is still under insolvency, might exit the legal procedure […]

Real estate deals in Romania triple in first six months

The value of deals with commercial real estate properties in Romania, in the first half of 2014, was about EUR 400 million, triple compared to the same period of 2013. “The office sector contributed more than 50% to the overall investment volume, the most significant transactions being the acquisition of BOB, BOC and Upground projects […]

Renewable energy units up almost 20-fold in Romania in four years

The number of renewable energy production units in Romania reached 559 last year, from just 31 at the end of 2009. The total installed capacity reached 4,350 MW and the total green energy output was more than 22.3 TWh in 2013, said Attila Korodi, Romania’s minister of the environment and climatic changes, quoted by Agerpres. […]

New orders for Romanian industry, up 6.6% in the first semester

New orders for Romania’s industry increased by 6.6% in the first half of 2014 compared to the same period of last year, according to data from the National Statistics Institute (INS). The main drivers were the durable goods industry, for which new orders increased by 27%, the consumables industry, which saw a 9% growth in […]

Car sales make a third of Romania’s exports to Russia

Car sales represent a third of Romania’s exports to Russia, which increased by USD 500 million last year, to a total of USD 1.84 billion, according to Mediafax newswire. Machinery and equipment make about a quarter of Romania’s exports to Russia, chemicals represent 12.4%, furniture is about 5%, metals – 4.9%, plastics – 4.1%, and […]

Romania, least affected by Russia’s ban on food imports

Russia decided to ban imports of most food products from the countries which supported sanctions against it following the Ukraine crisis, but Romania is among the countries least affected by this decision. Romania’s food exports to Russia were only USD 7 million in 2013, according to data from the European Commission, quoted by Reuters. Russia […]

Romania start selection process for its largest energy investment in 25 years

Romanian state owned company Hidro Tarnita launched the international selection procedure for investors interested in participating to the development of the Tarnita-Lapustesti Hydro power plant, which will have an installed capacity of 1,000 MW and will cost an estimated EUR 1 billion. The power plant, which has been on the state’s strategic investments list for […]

Romania’s online banking usage triples in three years

The percentage of online banking users in Romania went up from 2% to 6% in the last three years, according to a research made for Erste Group and BCR. The percentages apply to the Romanian population over the age of 15, which uses banking services, which is estimated at about 9.5 million people (56% of […]

Source: Romania-insider.com