Romanian Post Office to invest 60m euros in modernisation

The Romanian Post Office intends to invest 60 million euros to modernise automatic sorting centres in Bucharest and Cluj, a project for which it intends to borrow 50 million euros from the European Bank for Reconstruction and Development (EBRD) and from other banks. It will be a long-term loan, granted by the EBRD and a syndicate of commercial banks, according to EBRD data. The project entails the introduction of the first automatic mail sorting centre in Bucharest and upgrading the one in Cluj, in order to reduce delivery time, reads an announcement by the European Bank. The Ministry of Communications and Information Technology and Roland Berger Strategy Consultants signed the consultancy and financial services contract on Monday, in order to restructure the National Romanian Post Office (CNPR) with a view to its privatisation. The government approved the signing of the consultancy contract to restructure the CNPR in November 2006. The contract will last 18 months, and the consultancy fee amounts to 1.8 million euros.