Bucharest's Romexpo manager wants to borrow EUR 12 mln for expansion

Romexpo SA, the local company that manages the Romexpo exhibition complex in Bucharest, wants to take a EUR 12.2 million loan from Libra Internet Bank, to complete the construction of two new exhibition pavilions, reports local Economica.net. Work began in 2008 but has been postponed due to the crisis. The company aimed to increase the exhibition space by 36,000 sqm. The value of investments was estimated at EUR 36 million back then. Work was resumed about two years ago. The loan will be secured by mortgages on multiple properties, bank accounts, and future income from leases. In November last year, Bucharest mayor Gabriela Firea said that the central pavilion of Romexpo would be turned into a multipurpose hall with 15,000 seats, lockers, lodges, and all the necessary facilities for sporting events. Romexpo SA is a joint stock company, where the majority shareholder is the Chamber of Commerce and Industry. The Romexpo exhibition space covers a total area of 100,000 sqm in Northern Bucharest. editor@romania-insider.com