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Prefab set to invest 15.6m euros this year

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22.03.2011, 23:45 18

Prefab Bucureşti (PREH) building materials producer, owned bybusinessman Marian Petre Miluţ, has an investment budget of 65.4mlei (around 15.6m euros at the current exchange rate) for thisyear. The money may be used for the building of a plant in Moldovaor Bulgaria and of a steam and electricity co-generation stationwith a 6 MW capacity.

"The 40m lei sum was included in this year's investment budgetin case we should want to develop new production facilities inMoldova and Bulgaria. The project is under analysis, there'snothing definite, but it had to be included in the budget. (...) Wemust develop production in other countries as well because youcannot ship everything from Romania," stated Marian Petre Miluţ,the majority shareholder in Prefab, who controls over 80% in thecompany through Romerica International.

Costs related to the power station are put at 21.5m lei (5meuros) and will be 50% financed with European funds.

Prefab has budgeted 10.9m lei net income for this year, morethan triple the figure reached last year, amid 8.1% higher revenuesfrom its core business, 88.7m lei.

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