Borsec resort in the Romanian county of Harghita will feature a EUR 4.7 million spa center which will be financed from the state budget, according to data from the Borsec city hall.

Romanian power consumption is likely to grow by around 2 percent to 54.8 TWh in 2011, aided by increase demand in industry, Stelian Gal, the head of state-run power grid operator Transelectrica (TEL.RO) told Mediafax newswire. "Electricity consumption is estimated to reach 54.8 TWh in 2011, from 53.8 TWh a year earlier, boosted by growths in industry and services," Stelian Gal said.

The World Bank on Thursday approved the disbursement to Romania of a EUR3 00 million installment of its EUR 1 billion financial loan aimed to support structural reforms in key economic and social areas.

Real estate investment fund New Europe Property Investment (NEPI), with real estate assets in Romania, will float on the Bucharest Stock Exchange (BSE) by the end of March, according to Dan Weiler, executive director of Corporate Finance Investment Banking with BCR. The listing will not include an initial public offering (IPO).

RWE, Iberdrola and GDF Suez will withdraw from the Cernavoda nuke expansion project in Romania. Economic and market uncertainties surrounding this project, related for the most part to the present financial crisis, are not reconcilable now with the capital requirements of a new nuclear power project, according to German RWE.

US group CHS Inc. has bought Agri Point, a company with operations in Romania, Bulgaria, Hungary, and Serbia. Agri Point used to be controlled by East Point Holdings Limited in Nicosia, Cyprus. The value of the deal was not disclosed.

The Romanian economy is expected to grow only modestly in 2011, after a decline of 2 percent envisaged for 2010, while tough austerity measures are bound to face strong social opposition and could create instability, the Economist Intelligence Unit said in its latest global forecast Tuesday.

Romanian shoemaker Clujana is currently negotiating to export products on the Russian market, after entering the France, Italy and Germany market last year. Clujana has started exporting products under its own brand. The company used to be present on the Russian market during the communist period.

US construction company Bechtel International, Canadian SNC Lavalin Nuclear and firms from Russia have submitted letters to build the Cernavoda 3 and 4 nuclear reactors expansion project in Romania.

Energy company RWE has given up on a wind park in Dobrogea area of Romania after it failed to receive the construction permits and due to land ownership issues, according to company representatives quoted by the Romanian media.

Borsec resort in the Romanian county of Harghita will feature a EUR 4.7 million spa center which will be financed from the state budget, according to data from the Borsec city hall.

Romanian power consumption is likely to grow by around 2 percent to 54.8 TWh in 2011, aided by increase demand in industry, Stelian Gal, the head of state-run power grid operator Transelectrica (TEL.RO) told Mediafax newswire. "Electricity consumption is estimated to reach 54.8 TWh in 2011, from 53.8 TWh a year earlier, boosted by growths in industry and services," Stelian Gal said.

The World Bank on Thursday approved the disbursement to Romania of a EUR3 00 million installment of its EUR 1 billion financial loan aimed to support structural reforms in key economic and social areas.

Real estate investment fund New Europe Property Investment (NEPI), with real estate assets in Romania, will float on the Bucharest Stock Exchange (BSE) by the end of March, according to Dan Weiler, executive director of Corporate Finance Investment Banking with BCR. The listing will not include an initial public offering (IPO).

RWE, Iberdrola and GDF Suez will withdraw from the Cernavoda nuke expansion project in Romania. Economic and market uncertainties surrounding this project, related for the most part to the present financial crisis, are not reconcilable now with the capital requirements of a new nuclear power project, according to German RWE.

US group CHS Inc. has bought Agri Point, a company with operations in Romania, Bulgaria, Hungary, and Serbia. Agri Point used to be controlled by East Point Holdings Limited in Nicosia, Cyprus. The value of the deal was not disclosed.

The Romanian economy is expected to grow only modestly in 2011, after a decline of 2 percent envisaged for 2010, while tough austerity measures are bound to face strong social opposition and could create instability, the Economist Intelligence Unit said in its latest global forecast Tuesday.

Romanian shoemaker Clujana is currently negotiating to export products on the Russian market, after entering the France, Italy and Germany market last year. Clujana has started exporting products under its own brand. The company used to be present on the Russian market during the communist period.

US construction company Bechtel International, Canadian SNC Lavalin Nuclear and firms from Russia have submitted letters to build the Cernavoda 3 and 4 nuclear reactors expansion project in Romania.

Energy company RWE has given up on a wind park in Dobrogea area of Romania after it failed to receive the construction permits and due to land ownership issues, according to company representatives quoted by the Romanian media.