The Industrial and Commercial Bank of China (ICBC) and six other banks have signed an agreement to make a 10 billion yuan ($1.57 billion) syndicated loan to Polish power firm Tauron Group, Reuters and WBJ reported.
Indian company IBS Synergies wants to invest USD 150 million in Romania’s poultry sector for an integrated greenfield project. IBS Synergies is one of the largest companies in India with import-export operations and project developments. It is part of the IBS group, reports Romania-Insider.com.
South Korean investment in Hungary totalled 2 billion dollars in recent years which makes the country one of the most important investors in Hungary, with South Korean firms ensuring jobs to some 23,000 Hungarians, reports Daily News Hungary.
Indian giant automotive, Tata Motors' JLR plans new plant in Poland. Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) is planning to set up a new plant to make about 200,000 cars annually in eastern Europe and is zeroing in on Poland, reveals Business Standard.
China New Energy (CNE) acquired a 24% stake in a Visontai Bioetanol, a Hungarian biorefinery project company, for €250,000. Visontai contracted CNE to design and build a corn biorefinery with a capacity to produce 150,000 liters of ethanol daily, reported BBJ.
Chinese firm, Guangzhou Felicity Solar Technology, is to deliver photovoltaics to Kalisz Pomorski plant in Poland.
Samvardhana Motherson Group, an Indian automotive industry supplier, laid the cornerstone for a HUF 31 billion plant in Kecskemét, central Hungary, national news agency MTI reported cited by BBJ. The government has declared the project to be of primary importance for the national economy, MTI said. The factory, which is being built on a 94,000 sqm plot, is expected to employ approximately 450 people.
CEFC China Energy Company Ltd, a private Chinese investment group, has agreed to buy 51% of KMG International, the former Rompetrol Group, which was built by Romanian investor Dinu Patriciu. According to a CEFC source quoted by Reuters, the Chinese group plans to invest in expanding KMG International’s fuel distribution network from 1,000 units to 3,000 units, reports Romania-Insider.com.
Romania is the 2nd largest market in the CEE and the best performing EU member, with a GDP growth of 3.5 - 4% and a retail trade growth of 8%, 2nd in the world after Vietnam. The imports into Romania registered over 7% growth in the first 10 months of 2015 compared to the similar period of 2014. In the first 6 months of 2015, FDI in Romania was 39% higher against the same period in 2014.
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