Romanian company Prospecţiuni Bucharest (PRSN), controlled by local businessman Ovidiu Tender (in picture), intends to borrow up to EUR 6.5 million from Eximbank for investments in seismic acquisition equipment, and to open a subsidiary in the Republic of Mauritius.

On the agenda of the shareholders' meeting, scheduled for October 10, is the approval of up to EUR 6.5 million in funding from Eximbank.

Tender has many business plans for Africa, where he announced that he is interested in various sectors such as exploration and exploitation of resources, as well as mining, quarrying and construction.

Prospecţiuni's  income decreased by 25.8 percent in the first half of 2012, from EUR 33.3 million to EUR 24.7 million, and the company reported losses of EUR 1.36 million after a net profit of EUR 6.09 million in first half of last year. For this year the company’s management estimates a turnover of EUR 75 million and international expansion.

Tender holds a 55.7 percent stake in Prospecţiuni, while Tender SA Timisoara and SIF Muntenia have an 11.8 percent share.

Prospectiuni is the largest company of geological and geophysical services in Romania, with a portfolio of works in countries from Europe, Africa and Middle East. The company provides services for Romanian companies such as Petrom, Romgaz or Rompetrol.

Ovidiu Tender has a fortune estimated at over EUR 200mln and leads a group of companies with businesses in energy, tourism, transport and real estate.

Ioana Toader, ioana.toader@romania-insider.com

(photo source; the company)