American group invests in energy and agriculture in Transylvania

American company PHI Group, with investments in natural resources, energy and agriculture, signed at the beginning of 2018 a memorandum of understanding with a Romanian company to build an industrial park, a co-generation power plant and at least 10 hectares of greenhouses for ecological agriculture, in Romania’s central Transylvania region. PHI Group hasn’t nominated its Romanian partner, reports local Mediafax. The two companies will form a joint venture by the end of January, according to the agreement. They will build a 50 MW gas power plant. The greenhouses will be used for ecological agriculture and growing medicinal herbs. The projects will be financed by a Luxembourg-based fund owned by PHI Group and several European banks. PHI Group acquired Romanian agriculture company Maxagro last year and announced that it would raise USD 50 million to expand Maxagro’s business. editor@romania-insider.com