ARIS: Nokia’s investment at Juca to face competition

“By July, we intend to bring a multinational company to Tetarom, to join Nokia. This company will carry out a much larger investment than Nokia. We had a month of teleconferencing involving representatives of ARIS, the Cluj County Council, Tetarom, and of Deloitte&Touche of Chicago, who are advising the investor,” added Gavrea. He said he could not divulge the name of the investor as the company must first communicate its intentions to the trade union and the stock exchange on which it is listed.

The Tetarom representative indicated that the land needed for the investment, which has all necessary utilities, is available and is located next to that acquired by Nokia. “At the conclusion of the Nokia investment, we had another 50 hectares of land at Tetarom III, which we intended to auction off. After receiving the request from ARIS for this space we decided to make this land available,” said Gavrea.

German Siemens is presently the most important investor in the Tetarom I industrial park, with 32 hectares, while Emerson invested €125 mln in 12 hectares in Tetarom II.

Foreign direct investments in Romania amounted to €9.2 billion in 2006, of which €2.2 bln was for the privatization of Banca Comerciala Romana by Austrian Erste bank, and to €7.1 bln in 2007.