Share capital of Bamesa Otel, controlled by European steel group Arcelor and by the Spanish company Bamesa, has been increased through a cash contribution, from 100,000 RON to 54.1 million RON (15.3 million euros). The share capital increase was approved by shareholders last December. Bamesa contributes to the share issue with 32.36 million RON, and Arcelor with 21.64m RON. In July last year, Arcelor and Bamesa started the construction of a service centre for steel products in Topoloveni (Arges county), which will make products for the car industry and home appliances market. Construction started on a 130,000 square-metre plot of land, and production will begin in the second half of this year. Works will be completed in 2008, with the value of investment amounting to around 30 million euros.
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