Van Gulik International to invest $50m in Agigea

Dutch company Van Gulik International is planning to invest some 50 million dollars in the Agigea Freezone, in a twenty-five-year programme.

The project targets a harbour industrial and distribution park in the Agigea free zone and is a result of the co-operation between the Dutch corporation and the Navlomar Constanta maritime agency.

The Holland-based company started by getting the concession of nearly seven hectares in the free zone for fifty years from the Transports Ministry.

The works on Freezone Estgate, as the industrial park is to be called, will start this year, the first three industrial platforms that require a more than four million-dollar investment being scheduled to open in 2004.

Van Gulik International’s business plan also stipulates that the first investments will be made in arranging 40,000 sqm for industrial and storage spaces, aimed at electronics and computer-related activities. The next goal is to expand concessions to 228 hectares after the first ten years.

The feasibility studies and all the administrative formalities for this project were done by Navlomar. Furthermore, the Romanian company will also take care of solving every navigation-related problem (brokerage, customs duties payment consultancy, navigation restrictions, dock rental etc.).

Another three companies specially set up for the industrial zone (two foreign companies to deal in fundraising and management and a Romanian one with administrative duties) will also be part of this project, although the investors have not volunteered their names yet.

Freezone Estgate will be a gateway to Romania for capital interested in trendy businesses such as office supplies, electronics, computers, machine construction, services and infrastructure.

Sint Antonius van Gulik, chairman of the Dutch firm, said that fiscal incentives for depressed areas are one of the five advantages he intended to use to attract future partners.

The other four arguments that Dutch investors hope will convince other firms to invest in Constanta are the location of the industrial park in a strategic zone, the cheap skilled labour force, especially IT, a marketing company providing services for the clients and the potential market of 200 million people that Romania and the other CEE countries have. In addition, Freezone Estgate will be connected to the Constanta Sud container terminal.

The industrial complex will be fully built by Romanian companies, and Freezone Estgate will employ several thousand Romanian workers.

The Dutch investor hopes the development of the industrial park will bring along other businesspersons to help develop maritime transport activities and related services.

Van Gulik International will act as an agent attracting firms to operate in this industrial park, as well as Freezone Estgate administrator at a later time.