Prefab set to invest 15.6m euros this year

Prefab București (PREH) building materials producer, owned by businessman Marian Petre Miluț, has an investment budget of 65.4m lei (around 15.6m euros at the current exchange rate) for this year. The money may be used for the building of a plant in Moldova or Bulgaria and of a steam and electricity co-generation station with a 6 MW capacity.

“The 40m lei sum was included in this year’s investment budget in case we should want to develop new production facilities in Moldova and Bulgaria. The project is under analysis, there’s nothing definite, but it had to be included in the budget. (…) We must develop production in other countries as well because you cannot ship everything from Romania,” stated Marian Petre Miluț, the majority shareholder in Prefab, who controls over 80% in the company through Romerica International.

Costs related to the power station are put at 21.5m lei (5m euros) and will be 50% financed with European funds.

Prefab has budgeted 10.9m lei net income for this year, more than triple the figure reached last year, amid 8.1% higher revenues from its core business, 88.7m lei.