Petrom builds its own "city"

The new headquarters of Petrom, the largest Romanian company, will cost 130 million euros, almost double the value originally announced by the company. Petrom City will be located on a 100,000 square metre area in the North of Bucharest, in Straulesti, and will comprise five buildings, including a cogeneration facility with a 5MW capacity, which will provide the buildings with electric and thermal energy. The HQ will also include a 1,000 car park. The general contractor of the project is Bucharest-based Alpine, controlled by the Austrian group Alpine Meyreder, with the works scheduled to start at the end of this year. Altogether, the construction of Petrom City amounts to 80 million euros. The plot in Straulesti has a total surface area of 200,000 square metres, and is under Petrom ownership. After completion of the project, estimated to take place in 2010, Petrom will be the owner of 100,000 square metres, appraised by real estate experts at around 60 million euros.