The Diplomat Bucharest

Hypermarket leader drives into north
Carrefour is preparing to open three new hypermarkets in the second half of this year, in an investment worth up to 60 million Euro. Two hypermarkets will be in Iasi and one in Cluj-Napoca. Carrefour has seven hypermarkets in Romania, four in Bucharest and one each in Constanta, Brasov and Ploiesti.
DIY retailer plans shop blitz
Newcomer Mr Bricolage has 16 million Euro in store this year to open two more units in Romania, in Bucharest and Pitesti, said general manager Tudor Profir. Each store will cost up to eight million Euro to build. Mr Bricolaje plans to open stores in towns with over 150,000
inhabitants and a total investment of 220 million Euro.”

Leasing firm plans regional blitz
Hire-purchase company EFG Eurobank Leasing plans to open regional offices in eight cities this year. The company aims to launch in Iasi, Constanta, Brasov, Cluj-Napoca, Timisoara, Craiova, Targu Mures and Bacau, Sorin Manolescu, general manager of the firm, told The Diplomat. Now the firm is active through Bancpost branches and as a standalone in Bucharest.
Bottle maker goes coloured
Glass manufacturer Stirom plans to invest up to 27 million Euro in 2008 in two new ovens, one for coloured glass, that will increase the factory’s annual production from 110,000 tons to 170,000 tones. “These two investments will transform Stirom into the best equipped glass factory in Europe,” says general manger Nikolaos Barlagiannis.

Shopping centres planned for east
Globe Trade Center (GTC) and Aura Investments said they will invest up to 50 million Euro to build three Galleria commercial centres in Buzau, Piatra Neamt and Suceava, according to GTC manager Shimon Galon. The three centres will be delivered on the market in the first quarter of 2008.

Gas producer gets environmental nod
Siad Romania, a producer of industrial, special and medical gas, has received environmental approval to build an industrial gas production facility in Calarasi, worth 25 million Euro. The plant, whose construction is due to begin this April, will be located on the platform of the former Siderca steel mill, and will supply liquid oxygen, nitrogen and argon to companies in the area.
Agip aims to double market share
Petrol retailers Agip Romania will invest 36 million Euro over four years to double the market share by increasing its number of petrol stations in Romania, said general manager Nicola Meuli. “We will make further investments and acquire some already existing stations,” he said.

New bank tackles Romania
Millennium Bank Romania, the domestic branch of Portugal’s biggest bank, Millennium BCP, will launch its operations in September 2007, when it is set to directly enter the market with a 40-branch network. Millennium BCP ran in the race for the privatisation of Banca Comerciala Romana in 2005, but lost in the final round to Austria’s Erste Bank.

Lukoil looks at producing electricity
Lukoil Energy&Gas Romania, a subsidiary of Russia’s oil group Lukoil, will start producing electricity in the thermal power plant on the platform of its Petrotel refinery in Ploiesti, by 2009. Officials said total investments to complete the plan stand at up to 60 million Euro and the electricity produced will be mainly used for the refinery, according to Mediafax

Car-part maker raises start-up funds
Barcelona-based car parts manufacturer Manufactura Moderna de Metales (MMM) is set to invest seven million Euro this year to complete its production site in Turda, Cluj county. The firm so far invested about 5.5 million Euro to erect the production site, and has employed 20 people to date.

Medical lab opens in Timisoara
Swedish-owned Synevo Romania will open a new laboratory in Timisoara, in addition to the existing nine the firm has in Romania. Synevo is the local laboratory division of Medicover, and already operates in Bucharest, Constanta, Cluj-Napoca, Iasi, Satu-Mare and Suceava.

Gold firm to lend small
Gold-mining firm Gabriel Resources has launched a micro-lending company to fund start-ups and small businesses in the north-west of Alba County, near the site of a mine the company intends to develop. Asked whether the firm would agree to finance businesses that interfered with Gabriel Resources’ proposed site for the mine, a spokeswoman for the firm said: “It would be illegal to fund a business set up on the future mine site, as this is already declared industrial area and no other activities but mining can take place.” The mining firm hopes these loans, between 75 and 3,800 Euro, will assist in building up the service sector that could complement the future
operational gold mine.

Tractor giant gives local firm lifeline
Agricultural machine maker Semanatoarea and its main shareholder Myo-o are setting up a joint venture with the Belarus tractor manufacturer Minsk Tractor Works (MTZ) Belarus to create a new company, called Rombel Traktors. Together they will invest an initial four million Euro in assembly lines, software, licenses and training, targeting to produce 4,000 tractors per year. MTZ Belarus, one of the world’s largest tractor manufacturers, will control half of the shares, Semanatoarea will control 20 per cent and the remaining 30 per cent will be split between Myo-o and private partners. The venture is relocating its factory outside of Bucharest,
although no location was disclosed as we went to press.