Asmita Gardens, the largest Romanian real estate project, went bankrupt at the request of Alpha Bank, after half of the apartments could not be sold, Ziarul Financiar daily reported. The developer Asmita Gardens, represented by Indian investors and British ECDC investment fund, can either come up with a restructuring plan, or liquidate the business by auctioning the remaining apartments. A total of EUR 120mn was spent on the project. The claims of the British and Indian investors amount to EUR 70mn. Strabag construction company also holds a EUR 8mn investment in the project. |
Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more
Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more