BUCHAREST (Romania), January 27 SeeNews) - Romania's industrial and logistic projects developer Element Industrial plans to invest 37 million euro ($45 million) in a new logistics park near Bucharest, it said on Wednesday.
Located in the Buftea-Chitila area, Eli Park 3 will have a total area of 72,000 sq m, Element Industrial said in a press release.
In the first stage of the construction, the developer will build a 18,500 sq m distribution centre.
Element Industrial operates logistics parks under the Eli Parks brand in Bucharest, Pitesti, Craiova, Braila and Ploiesti, as well as smaller warehouses, under the Eli Xpress brand.
The company was founded in 2018 by Romanian entrepreneurs Ionut Dumitrescu and Muler Onofrei.
In September 2019, Element Industrial said that it has over 300,000 sq m of logistics parks in the pipeline by 2022.
($=0.8245 euro)