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ZF English

Nelu Iordache wants to build first private airport with 200m euros in Adunatii Copaceni

24 feb 2010 35

Nelu Iordache, 43, one of the most discreet businessmen on theRomanian market, owner of Blue Air, Romstrade, and La Mosie, whichare part of a half a billion-euro group, has given his first pressinterview to ZF, making official statements on his investment plansfor the next few years, after he had avoided meetings with thepress for years.

"I've been keen on building businesses from scratch. I have notinvested in real estate because I never liked speculations. For thefruit farm La Mosie in Adunatii Copaceni I did not take out anyloans to make the 7 million-euro investment, and for the concessionof the Bacau airport, I allocated 29 million euros from my ownfunds," says Iordache, who adds that profits have been constantlyreinvested, and that he "does not have a lot of money in hisaccounts." Having reached a 500 million-euro turnover, he ispreparing for his biggest investment. Next year he will startconstruction of the first private low-cost airport in AdunatiiCopaceni on a 200-hectare area, with the investment to amount to150-200 million euros.

Nelu Iordache's plans also include developing his business inIraq, and becoming a rival for CFR Calatori, the passenger serviceof the state-held railway carrier. For this prospective expansion,Iordache considers getting funding from banks, stock exchangelisting, and bond issuing. For the time being he rules out sellinga share of his business.

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