BUCHAREST (Romania), September 3 (SeeNews) – Belgian real estate developer Alinso Group and Petrica Usurelu, the owner of Romania’s Piritex Group, will develop a 750 million euro ($1.1 billion) logistics park in the southern Romanian town of Ploiesti, the two companies said in a joint statement on Thursday.
Alinso Group and Usurelu have set up a joint venture to develop the Ploiesti West Park. Construction works started in June and the first building will be completed in early October this year, the statement said.
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The park, which will cover an area of 220 hectares, is expected to be finished in six to seven years and to create 16,000 jobs.
“Throughout the last years, Alinso Group has closely followed the intensive growth of Eastern Europe and has therefore considered several regions for establishing a main business park. We have chosen Romania, a country with natural resources, well-educated and motivated people, ideally located to serve the Eastern European market and beyond,” Alinso Group CEO Ivan Lokere said in the statement.
($=0.6992 euro)