November 6 (SeeNews) - Romania's privatisation agency AVAS said it signed on Tuesday a deal for the sale of its 62.82% stake in electrical equipment maker Electroputere to Al Arab Contracting Company for 2.3 million euro($3.3 million). Under the contract, Arab Contracting Company of Saudi Arabia must invest 23.1 million euro in upgrades and environmental projects in the Romanian company. It should provide another 37 million euro for operating capital and would pay Electroputere’s debts of 44 million euro, AVAS said in a statement. Electroputere has four divisions that manufacture locomotives, electric engines, power transformers and other electrical equipment. It reported a net loss of 30.71 million lei ($13.24 million/9.10 million euro) for the nine months through September, up from 30.45 million lei net loss a year earlier.
Jun 10, 2026
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