Biggest electro-IT retailer in Romania invests EUR 37 mln in new warehouse

Altex Romania, the biggest electro-IT retailer on the local market, will develop a new logistics center in Dragomiresti Vale, near Bucharest, with a total investment of EUR 37 million. The company has purchased a 12.5-hectare land plot for about EUR 5.5 million for this project. The logistics hub will include two main warehouses, totaling 90,000 sqm, and 46,000 sqm of outdoor logistics platforms. The company has selected GSE Romania to design and build the project. State-owned lender Eximbank will finance 80% of the costs for the first phase of this project, which will be completed in the first quarter of 2019. Altex is now looking for financing for the second phase, worth EUR 15 million, which will be developed next year. “The new logistics center will centralize the activity that we now have in four warehouses, providing better availability for a wide range of products and faster delivery to our clients,” said Altex founder and CEO Dan Ostahie. Altex runs a network of 118 stores in Romania under the Altex and Media Galaxy brands and two online stores, with a team of 4,000 employees. editor@romania-insider.com