Eximprod invests 6m euros in offices

The Buzau-based Eximprod Group, which makes and distributes equipment for the electrical industry, intends to invest 6 million euros in the construction and fitting of office buildings in several cities across the country next year. "We will invest 6 million euros in the construction of business centres and headquarters in Buzau, Cluj, Bacau and Bucharest in 2006. Part of the space will be used by the company and the rest will be offered for other economic operators to let," stated Gheorghe Manole, Eximprod Buzau''s general manager. The investment will be 60-70% self-funded, with the rest to be secured from loans. The company is considering lenders like BCR, BRD, Banca Transilvania and Banca Tiriac for the project. The company invested one million euros in initiating works on the buildings in Buzau, Cluj, Bacau and Bucharest. The officials anticipate 18.5 million-euro turnover this year, an increase of about 15% on last year. "The growth due to privatisations in the energy sector and investments in the electricity infrastructure provided the main opportunities on our market this year," Manole says. ZF