ICCO gets 23m-euro loan from UniCredit

Following negotiations that lasted about one year, the ICCO group has contracted a 23m-euro loan from UniCredit Tiriac Bank to continue works in the industrial park of Brasov, a project worth 32m euros, which has been 40% built so far. “The main objective of our collaboration with UniCredit is the agreement to finance the project promoted by ICCO, Parcul Industrial Brasov, a private greenfield project that rents out production or warehousing spaces and offices,” stated Mirela Radulescu, sales & marketing officer of the group. The construction of the industrial park started in late 2007, and four halls totalling 40,000 square metres have been finalised so far. They have been completely rented out, under long-term contracts. The current level of the entire investment in the project is put at 32m euros by the group’s representative, a value almost 30% smaller than the one announced last year. For this year, the group’s plans are to rent out the 10,000-sqm available hall and continue investments in the industrial park.