The Bucharest City Hall is looking to take over the management of the Romexpo exhibition complex in the capital, according to a proposal to be discussed by the Bucharest General City Council (CGMB), Mediafax reported. The city hall plans to organize here various cultural, educational, sports and leisure events.
Romexpo SA is a joint stock company, where the majority shareholder is the Chamber of Commerce and Industry. The exhibition space covers a total area of 100,000 sqm in Northern Bucharest.
“The city of Bucharest has a major deficit in what concerns the areas needed for cultural, educational and sport activities,” according to the motivation included in the proposal. The Romexpo complex is located in an easily accessible area, which can be used for leisure activities, the same document reads.
In November 2016, the Bucharest City Hall together with Romania’s Chamber of Commerce and Industry and the District 1 City Hall said it wanted to invest EUR 30 million in arranging the main pavilion of the Romexpo exhibition space as a polyvalent hall.
Romexpo SA, the local company that manages the Romexpo exhibition complex, announced at the beginning of the year it wanted to take a EUR 12.2 million loan from Libra Internet Bank, to complete the construction of two new exhibition pavilions.