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January 23, 2022

Companies & Opportunities

Petrom to invest
EUR 15 M in Moldova

Petrom will invest EUR 15 M in the Republic of Moldova, during the next five years, the company announced during the meeting named “Business opportunities in the Republic of Moldova,” attended by Moldovan Premier Vladimir Filat and by Romanian businessmen, Agerpres reports.

According to a press release issued by the Romanian Chamber of Commerce and Industry, the Moldovan PM addressed Romanian entrepreneurs an invitation to come, do business and invest in Moldova. In this context, the president of the Businessmen’s Association of Romania (AOAR), Florin Pogonaru announced the creation of a private capital fund that will intermediate Romanian investments in Moldova. Adding to this, a Petrom high official said the company will invest EUR 15 M in the neighbouring country during the next five years, while the president of the Romanian Association of Carmakers and Importers, Constantin Stroe declared that car part manufacturers plan to start very soon a series of projects in the Republic of Moldova.

On the other hand, Petrom (SNP), in which Austrian Group OMV holds a majority stake, ranked 169 in this year’s Platts Top 250 Global Energy Companies rankings, the first time the oil company made it into this prestigious standing.

Pirelli wants to open
the second factory

The tire maker Pirelli prepares to begin the construction of the second tire factory at Slatina, Ziarul Financiar informs. The factory will be built near the one inaugurated in 2004. The project of the factory built at Slatina stipulates two units for the production of tires located one in front of the other. The first unit was built in 2004, while its twin unit was announced at the beginning of this year. The company is looking now for money. The European Investment Bank (EIB) analyzes now the granting of EUR 50 M for the increase of the production capacity of the Italian company. The total value of the project is EUR 159 M. “The project is meant to increase the competitiveness, the production capacity of Pirelli, and to allow it to further benefit from a production base efficient in terms of costs, close to the markets from Central and Eastern Europe,” EIB representatives declared in a press release. Pirelli has recently obtained another loan from EIB of EUR 100 M, for the funding of research and development projects during 2009-2012.

SGAM Eastern Europe becomes new MedLife shareholder

A package of 36.25 per cent of MedLife shares was sold to SGAM Eastern Europe, the private investment fund of Societe Generale Asset Management – subsidiary of Groupe Societe Generale. The estimated value of the transaction exceeds EUR 20 M, becoming in this way the biggest sale operation in the domain of the medical services made so far, a press release informs. The shares will be acquired from Marcu family, which remains the majority shareholder of the company, and from International Finance Corporation, member of the World Bank group, which remains the minority shareholder of MedLife.

Concurrently with the conclusion of this sale agreement, MedLife announced the expansion of the network of hyperclinics, through the opening of four new units in Bucharest and in Cluj, in the first half of 2010. The four hyperclinics will have a surface of over 8,000 sq m, with the possibility to set up also hospitals starting in 2011.

Also in early 2011, an RMN 3T will become operational at Life Memorial Hospital, MedLife being the first medical operator in Romania that will put at the disposal of the patients an equipment of such complexity. Presently, only three RMN 3T are operational in Central and East Europe.

MedLife reported a turnover of around RON 79 M in the first nine months of this year, up 44 per cent vs. the same period of the past year.

Sibiu cheese exhibited
at EP

Romania will be the first country to exhibit in March, in the offices of the European Parliament, all the domestic products, but especially the cheese assortments, particularly the famous Sibiu cheese, the PSD MEP Daciana Sarbu, member of EP Commission on agriculture, has recently announced, Agerpres informs.

“We shall organize for the first time, in March, an event in Brussels – the producers and breeders of sheep and goats – an exhibition with the presentation of the products of the Romanian agriculture, particularly cheese. We make this exhibition because there is a wrong perception connected with the Romanian agriculture – most of the time when we fought to increase the quotas and the subsidies, the EP people did not understand why we ask this,” Daciana Sarbu said at Sibiu. She also declared that next year, in June, she invited the Commission on Agriculture to Romania. The PSD MEP estimates that Romania has a very big chance to enter the EU markets, especially thanks to its ecological agriculture.

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