The first five companies controlled by the Bucharest City Hall through its General Council officially registered at The National Trade Register Office and the Finance Ministry.

The companies are part of the municipal holding called the “Bucharest-European capital”. This includes 21 companies, whose single shareholder will be the Bucharest General Council. Each of these five firms has an initial share capital of RON 120,000 (EUR 26,100), reports local Profit.ro.

One of the five companies will be in charge with electricity production, transport, distribution and trade, as well as gas production and distribution. Another company will manage the buildings the Bucharest City Hall owns. It will be in charge of building maintenance, property purchase, and sale and rental.

Another firm will be in charge with special constructions activity, namely consolidating buildings with high seismic risk. Another one will manage advertising spaces in Bucharest’s public areas. The Bucharest City Hall earned about EUR 1.7 million per year in 2015 and 2016 from street advertising. The new firm will try to increase the revenues to EUR 10-30 million per year.

The fifth company will provide consulting services for the large infrastructure projects in Bucharest.

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