400m euro Romanian-German projects

The representatives of German companies on Monday signed over 400 million euros in agreements for projects with the Romanian companies. The signing took place during the visit in Romania of a powerful German business people delegation headed by Federal Economy and Labour Minister Wolfgang Clement. “The memorandums signed will materialise in contracts this year,” Dan Ioan Popescu, Economy and Trade Minister said. German Siemens AG Group signed a framework contract with CFR Marfa for supplying 40 Diesel locomotives, a deal that should be worth about 80 million euros. To Siemens, this is the second biggest deal since the signing of a commercial contract with CFR Calatori for 120 Desiro self-propelled trains in 2001, a deal secured by the State and amounting to 321 million euros. On the other hand, the national electricity carrier Transelectrica signed an agreement with the consortium comprising ABB Germany and Areva for the project to rehabilitate the Sibiu Sud electrical station, a project worth some 40 million euros. Electrical power producer Hidroelectrica signed an agreement for the retooling of several hydropower plants on the lower Olt River – an over 90 million euro project, with Voith Siemens, the leader of an investor syndicate. ZF