The representatives of the Government and those of the Turkish company Kucuk have reached an agreement on the start of construction work on Casa Radio (Radio House). The two parties agreed to have the total investment increased from 130 million dollars to 160 million euros, and the state interest in the project raised from 10% to 15%. The project details were set after the representatives of the Kucuk company produced the documents showing they have the financial strength to make this investment, the delegate minister for Public Works, Laszlo Borbely told Mediafax news agency on Monday. "A consortium of three companies will participate in this project, including an investor that has experience in Europe and built about 40 malls last year," Laszlo Borbely stated. He added that an office building to be used by the central public administration would be built as part of the Casa Radio complex. The Compania Nationala de Investitii (National Investment Company) requested a 10,000sqm plot of land from the Government two weeks ago, located close to Casa Radio, where the investor is to develop the Dambovita Center real estate project and erect an office building to be used by the public authorities. The completion of the talks between the Government and the Turkish company will be officially announced next week at the latest, when all the details of the agreement will be revealed, Borbely added. The Transport Ministry issued an ultimatum to Kucuk this June, allowing it three months to prove it actually had the money available to redevelop Casa Radio, or else the contract signed in 2003 was to be terminated.
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