Romanian electro-IT retailer Altex invests EUR 27 mln in stores, warehouses

Altex Romania, a major Romanian electro-IT retailer, which also operates an online marketplace, will invest over EUR 27 million in expanding its logistics network and opening at least three new stores by the end of the year. It will fund the expansion from its sources and also from other sources of financing that the company seeks to identify in the immediate future.

The retailer has already started the construction works for the new stores in the network, located in Chiajna, Lugoj, and Deva.

The total investments in these stores will reach almost EUR 9 mln.

At the same time, Altex continues the works on two other construction sites opened in Resita and Campina, which it plans to complete in the first quarter of 2021.

The investment value of the two stores is approximately EUR 4.5 mln. In addition to expanding its store chain, Altex also decided to expand the logistics center in Dragomiresti by over 37,000 sqm, with a EUR 13.5 million investment.

(Photo: Altex Romania Facebook Page)