Dutch logistics group Rynart is to invest 25 million euros in the construction of a logistics centre in Bucharest.
The centre for the warehousing and centralising of freight for distribution to retail stores is scheduled for completion in the second half of 2006.
"We have been present on the Hungarian market for eight years, during which time we saw an average yearly growth rate of 70%. We have decided to expand onto the Romanian market at the request of our traditional customers, who want to expand their operations in Romania and need our services," said Arno Verbeek, financial manager for the company.
Verbeek says Romania represents one step in the company''s strategy for expansion into Eastern Europe, which will see the establishment of a Rynart centre in Turkey.
"Romania will enter the European Union in 2007. The Romanian market will develop, and consumption will rise in parallel with demand for high-quality logistics services. We expect an annual average increase of 15%," he said.
Rynart''s new logistics centre will be built in the Bucharest Industrial Park in the Bolintin-Deal area, close to the Bucharest-Pitesti highway, and will have a total area of 20,000 square metres.
Preparations for the project included long negotiations with Universal Property, the owner of 160 hectares in the Bucharest Industrial Park, which resulted in the takeover of the first 17.5 hectares of land, and then with Universal Management to build the necessary infrastructure for the industrial park. The logistics centre will be built by Sinergy, a Romanian constructor, and is expected to be completed by the second half of 2006. "Rynart has been preparing for a year to enter the Romanian market, based on the development of the Romanian logistics and retail market," said Liviu Hagea, general manager of Universal Property.
The majority stakeholder in Universal Property is Nicolae Ratiu, son of ex-politician Ion Ratiu, through Regent House Properties of London. The first phase of the project will see the Romanian office of the Rynart group achieve countrywide coverage with a number of 300 employees.
Beside its self-funded investments, other financial resources needed in the construction of the Rynart centre will be provided by Raiffeisen Leasing.
lavinia.marin@zf.ro
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