Mamaia in the red after 3m-euro investments

In the first six months of this year, the Mamaia company registered financial results standing at less than those seen in 2003. Total reported losses amounted to about four billion ROL, following the financing of investment projects worth three million euros, stated Lucian Dan, the firm’s general manager. “This year, the company has participated in two investment projects, both standing at 1.5 million euros each. These involved the Mamaia funicular railway and the establishing of a resort on the Danube Delta. These two projects will bring us significant revenues, so we have no reason to worry about money. We have decided to reinvest the money obtained from leisure projects, rather than keep it in the bank,” Lucian Dan added. The Laguna Blue complex in the Danube Delta, situated in Lunca village close to Razelm-Sinoe, will be opened in September. The centre includes two hotels, a restaurant, stores selling hunting and fishing equipment, a harbour for leisure vessels and a hunting and fishing reservation leased from Administratia Rezervatiei Biosferei Deltei Dunarii (The Administration of the Danube Delta Biosphere Reservation- ARBDD). ZF