IAR - Eurocopter deal worth 100 million dollars

The joint venture set up by IAR Ghimbav and Eurocopter will bring about 100 million dollars to Romania over the next two years, Premier Adrian Nastase said in Paris, after meeting with the president of the French company, Jean-Francois Bigay.

The General Assembly of Shareholders of IAR Ghimbav in October approved the participation of the helicopter plant in the joint venture Eurocopter Romania. The French company holds 51% in the shares of the newly-established company, while IAR Ghimbav owns the rest of 49%.

“The joint venture was created and it must start operating soon, as this project will bring almost 100 million dollars over the next two years in terms of exports and offer for the domestic market,” Nastase said.

While in Paris, the Romanian Premier also met with representatives of other large French companies, such as France Telecom, Michelin, Alstom, Alcatel, BNP Paribas, Carrefour, Lafarge, Renault, and presented the opportunities provided by Romania for business development and the legislative frame aimed at attracting foreign investments.

According to Nastase, the above-mentioned companies are likely to invest or to expand their business in Romania. “We generally consider there is a strong possibility to develop projects and joint ventures with these companies,” Nastase said.

He mentioned that Romania was a founding member of the World Trade Organisation, which is an additional guarantee for its stable, transparent and non-discriminatory trade policy.

“Investment in Romania represents an act of trust regarding the quality of the business environment and the available human potential,” Nastase maintained.

According to the Romanian Premier, French President Jacques Chirac believes that the political approach regarding the European Union expansion should take into account al the 12 candidate countries.