OTP Bank grants 8.9 mln lei (1.8 mln euro) loan to Romanian logistics operator Rara Invest

The company is already using the funds for the expansion of its storage spaces in the Sura Mica industrial park in Sibiu, in central Romania, OTP and Rara Invest said in a joint press release.

The new logistics centre will be added to the existing one and will consist of four storage units, with a combined area of 15,000 sq m, a capacity of 20,000 pallets and 23 ramps for loading and unloading trucks.

The loan is guarantied by the state under the IMM Invest programme in support of small and medium-sided enterprises (SMEs).

"It is an extraordinary situation and we are glad that we can continue the planned investments, in the current context," RARA Group founder Rares Sarbu said.

Rara Invest is part of the Brasov-based RARA group alongside Rara Construct, Rara Consult and Rara Trip.

Rara Invest is active in the field of storage and distribution, and currently operates three warehouses located in two industrial parks in Sibiu, with a total storage area of 8,850 sq m and a capacity of 10,000 pallets.

(1 euro = 4.8672 lei)