Investments of 230 mln dollars, approved by Kazakh-Romanian Energy Investment Fund’s Board

Must Read

The Romanian Athenaeum (Ateneul Român) receives the European Heritage Mark from the Commission for the significant role played in the history and culture of...

Brussels, April 11, 2024 - RBJ - Today, April 11, the European Commission awarded the Romanian Athenaeum - Ateneul...

The Chinese invest in Romania: in Calarasi, in the south of the country, one of the most important solar panel factories is being built

Bucharest, April 11, 2024 - RBJ - The photovoltaic panel manufacturer Dahai Solar from China is building a photovoltaic...

Chancellor Olaf Scholz, in Bucharest: Germany and Romania share a close trading and investment relationship

Bucharest, April 9, 2024 - RBJ - Leading German companies in Romania presented on Saturday a series of proposals...

By Andra Beltz
The Board of the Kazakh-Romanian Energy Investment Fund approved two investment projects totaling around 230 million dollars last week, according to a Fund’s press release issued on Wednesday for AGERPRES.
It is about the construction of a cogeneration plant on the Petromidia platform [south-east of the country, at the Black Sea] and the development of a local gas station network.
The Board of the Kazakh-Romanian Energy Investment Fund met last week in its first working meeting since its establishment in October last year, in which the main directions of development for the next period were approved.
‘It is a major step for the local energy sector, demonstrating the commitment, trust and willingness of its shareholders to invest and contribute to the economic development of Romania. In the next period, the Fund’s objective will be to rapidly implement the approved investments and to identify other investment opportunities in the energy sector,’ Iskander Abdibaitov, the Fund’s General Manager, said in a statement.
The two shareholders of the Fund are the Energy Ministry, through the Energy Interests Management Company (20pct) and KMG International (80pct), which is part of the Memorandum of Understanding signed by the two sides in 2013.
Over a 7-year period, the Kazakh-Romanian Fund has an estimated investment level of about one billion dollars.
The main priority of the fund is the development of energy projects, thus contributing to the development of the energy sector in Romania, as well as to the consolidation of the country’s energy security by diversifying the sources of oil supply and strengthening a favorable investment climate in Romania, the quoted release reads.

- Advertisement -
Latest News

The Romanian Athenaeum (Ateneul Român) receives the European Heritage Mark from the Commission for the significant role played in the history and culture of...

Brussels, April 11, 2024 - RBJ - Today, April 11, the European Commission awarded the Romanian Athenaeum - Ateneul...

The Chinese invest in Romania: in Calarasi, in the south of the country, one of the most important solar panel factories is being built

Bucharest, April 11, 2024 - RBJ - The photovoltaic panel manufacturer Dahai Solar from China is building a photovoltaic panel factory with an annual...

Chancellor Olaf Scholz, in Bucharest: Germany and Romania share a close trading and investment relationship

Bucharest, April 9, 2024 - RBJ - Leading German companies in Romania presented on Saturday a series of proposals on how to leverage better...

Indicathor ESG – the first AI-based platform in Romania that automates sustainability reports for companies

Bucharest, April 9, 2024- RBJ - Entrepreneurs Sandu and Sergiu Băbășan invest in a new technology project - Indicathor ESG, the first platform in...

OVES Enterprise launches Storm Shadow AI, an on-premise AI solution that can learn in record time to make fast and accurate decisions in critical...

Cluj-Napoca, March 28, 2024 - RBJ - OVES Enterprise, a software development company and drone manufacturer, is launching Storm Shadow AI, an advanced artificial...
- Advertisement -

More Articles Like This

- Advertisement -