Romania's state-controlled postal services company Posta Romana announced it signed a RON 200 million (EUR 43 mln) loan agreement with state-owned Eximbank to finance a large-scale investment program.

The Romanian Post chose EximBank following a competitive procedure. The loan has a period of 12 years.

The company's investment program aims to consolidate and maintain its market leader position in the Romanian postal sector.

The company needs to invest in postal infrastructure, digitization, and human resources, according to the recommendations received from the professional services company Deloitte.

Thus, the loan granted by EximBank will be used mainly for automating logistics processes (RON 68 mln), and creating and implementing an integrated digital management system architecture (hardware and software - RON 128.3 mln).

The company also wants to rehabilitate the historical monument buildings it owns in Timisoara, Piatra Neamt, Oradea, and Cluj-Napoca, with RON 54.5 mln.

"We are in talks with both the World Bank and the European Commission, as well as with the Ministry of European Funds, to obtain financing that will continue the investments started with the loan from EximBank. In the long run, Posta Romana aims to become a major player on the market," said Horia Grigorescu, general manager of Posta Romana. 

(Photo: Moruzx | Dreamstime.com)

andrei@romania-insider.com