December 19 (SeeNews) - The European Investment Bank is lending 150 million euro ($171 million) to Belgian logistics property developer Warehouses de Pauw (WDP) to finance the construction of 43 warehouses in Romania’s convergence regions, the bank said on Wednesday.
The new warehouses will be rented long-term, with a focus on establishing new logistics or light industrial operations, EIB said in a press release.
The projects will promote the creation of jobs and the EU's supply chain security, resulting in particular from the rapidly growing e-commerce business platforms.
"This financing package confirms and supports our company’s mission of contributing to the real economy by developing modern logistics infrastructure for our clients, thereby leading to a future-proof supply chain and fostering employment generation in this region," WDP general manager Jeroen Biermans said.
The warehouses forming part of a project financed by the EIB in Romania are situated on one of the five key national corridors identified by the General Transport Master Plan of Romania. They will be built on the basis of sustainability principles, such as energy efficiency and the reduction of carbon emissions, economic water consumption and sound management of construction waste.
"The EIB loan will foster development of storage facilities across Romania needed for increased availability of higher quality services for businesses and economic activities. This project will generate 3,700 new employment opportunities during the construction phase and 750 after its completion, and contribute to economic diversification in Romania’s convergence regions, which are facing the challenges of structural changes," EIB Vice-President Andrew McDowell said.
WDP said earlier this month it has signed a 45 million euro deal for the development and lease of 77,000 sq m of logistics warehouse space for the Romanian arm of French retailer Auchan. Delivery of this new development located in WDP's existing site near Bucharest, in Stefanestii de Jos, is scheduled for the first quarter of 2020.
In October, WDP said it plans to invest 75 million euro in four properties on three different sites in Romania by late 2019.
WDP develops and invests in logistics property, namely warehouses and offices and has a property portfolio of around 4 million sq m. This international portfolio of semi-industrial and logistics buildings is spread over more than 180 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg and Romania.
($=0.8771 euro)