Romania Feed

OMV Petrom, Romania’s largest natural gas producer after Romgaz, ended the first half of this year with a natural gas production of 1.7 billion cubic meters, 11% lower from the same period of last year, in line with ZF calculations based on company reports.

Austrians are ever more dynamic on Romania’s investment market and after UNIQA Real Estate GmbH that bought The Light One building from Ion Radulea in April 2021, in 2022 an investment fund of Erste that owns BCR is contemplating acquiring CA Immo’s offices in Romania, in line with ZF real estate market sources.

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.

Three-month ROBOR, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, rose to 7.36% a year on Friday, July 22, up 15 basis points from Thursday, when it stood at 7.21% a year, in line with central bank data.

International Lazar, specialized in freight transportation, controlled by entrepreneur Ion Lazar, ended 2021 with total turnover worth RON203.6 million (EUR42 million), from RON140.6 million RON in the previous year.

Bento Intellectually Curious, a Romanian entrepreneurial company founded in 2004 and specialized in developing and implementing software solutions and delivering IT and Cloud infrastructure services, listed on the AeRO market of the Bucharest Stock Exchange, has announced the approval of a EU funds project worth around RON25 million within the Competitiveness Operational Program 2014-2020, with around RON15.1 million being non-reimbursable funds.

Belgian group Etex, with two plasterboard plants in Romania, bought Ursa, a producer of glass mineral wool and extruded polystyrene, from Germany’s Xella.

One United Properties, the most dynamic real estate developer in Romania, sold the two penthouses part of One Verdi Park project of Barbu Vacarescu in a deal topping EUR12 million plus VAT.

Grain trader Global Grain International, which also operates the vegetal oil plant Ultex of Tandarei, Ialomita county, in 2021 generated turnover worth RON2.4 billion, nine times bigger than the 2020 one, in line with ZF calculations based on Finance Ministry data.

Freshful, one of the newest online hypermarkets on Romania’s market, a project developed by eMAG, leader of the local virtual retail sector, has reached the threshold of 15,000 clients per month, more than double the level of April 2022.

The Board of Directors of ArcelorMittal Hunedoara (SIDG.RO), the steel mill owned by the ArcelorMittal, has decided to temporarily reduce activity of the company in July 23 – August 5, 2022 and to pay 75% of the employees' basic salary, a report published on the Bucharest Stock Exchange says.

Romania's Finance Ministry on Thursday raised RON728 million from banks via a government paper auction with a nominal value of RON300 million, due in 2026, at an average yield of 9.08% a year.

Nuclearelectrica (SNN.RO),the only nuclear power producer in Romania, has announced the advancement of the Unit 1 Refurbishment Project by signing the first contract with Candu Energy, member of the SNC-Lavalin Group and the Authority for Designing Unit 1 and OEM (Original Equipment Manufacturer) of the CANDU technology, the company said in a report to the Bucharest Stock Exchange.

Chimcomplex (CRC.RO), Romania's largest chemical plant with industrial sites in Onesti and Ramnicu Valcea, has inaugurated a production installation for special polyols on the Oltchim site, following an investment of EUR40 million.

Nordis Group, a real estate developer of premium hotel and residential complexes, posted sales of RON123.7 million in the first half, as a result of the sale of 255 apartments in its four projects under construction.

A group of Romanian and English investors is set to invest EUR50,000 via BA platform Growceanu in T-DAB.AI, a Deep Tech British company, in a EUR600,000 round.

Deloitte Romania will provide automation solutions for SMEs, large companies and corporations operating in fields such as financial services, production, retail, pharma, telecoms, transport and media and advertising, but also for the public sector, on the basis of a partnership sealed with US software company Creatio, which offers a codeless platform for the automation of workflows and client relationship management.

Suceava-based paving stone manufacturer Symmetrica reported 20% higher turnover for the first half of 2022, as prices of raw materials went up by as much as 30%.

Aluminum producer Alro Slatina (ALR.RO), one of the largest vertically integrated aluminum smelters in Europe and the biggest electricity consumer in Romania, is set to submit the decision to temporarily half the alumina production activities of Alum Tulcea for an estimated 17 month-period to the General Assembly of Shareholders meeting of July 29, for approval.

Cisco Systems Romania, the local subsidiary of the US giant of the same name, reported turnover worth RON69 million (EUR14 million) in 2021, down 3% from the previous year.