Romania's eMAG builds largest logistics hub in CEE near Budapest
Romania's online retailer eMAG, with operations in Romania, Bulgaria and Hungary and a marketplace hosting 40,000 sellers, is developing a 100,000-120,000 sqm logistics hub near Budapest – the largest of this type in Central and Eastern Europe (CEE), according to a company's press release.
The investment is estimated at EUR 100 mln, and the company already used a EUR 30 mln bridge loan to start it, Economica.net reported.
Greek Alpha Bank, which has developed a broader collaboration with eMAG, will extend a EUR 70 mln loan to finance the project.
In developing the project, eMAG is committed to BREEAM Excellent certification standards for green buildings to optimise energy consumption and limit greenhouse gas emissions.
"As a leader in business lending in Greece, Alpha Bank's financing of eMAG's first logistics hub project in Central and Eastern Europe reiterates our bank's commitment to finance value-added projects that accelerate the formation of regional players and contribute to supporting sustainable economic growth," said Yannis Emiris, General Director Wholesale Banking of Alpha Bank.
(Photo source: Vlad Ispas/Dreamstime.com)