The U.S. Department of Defense has awarded a $946 million contract to arms company Raytheon Technologies (RTX) to supply Romania with additional Patriot air defense systems, The Defense Post reported Friday. The contract is set to expire on December 31, 2029. The military website notes that the deal will mark the third delivery of Patriot systems to Romania by the U.S., following previous purchases in 2017 and 2020. The new contract awarded by the Pentagon to Raytheon Technologies, one of the world’s largest arms companies, will cover firing units, which include advanced radars, control stations and interceptor missiles. In a statement sent to The Defense Post, RTX Vice President for Global Patriot Pete Bata emphasized that the new contract will allow the NATO country to better protect its citizens and critical infrastructure amid escalating threats in the region. He described Romania’s continued investment in the Patriot as a “testament to the nation’s dedication to ensuring collective security, deterrence, and stability across Europe.” “[RTX] is committed to providing Romania with advanced integrated air and missile defense capabilities,” he added. RTX said it will collaborate with local defense companies to ensure a seamless supply chain for the Romanian Patriots. Raytheon also said it will work with local arms companies to ensure an adequate supply chain for Patriot systems destined for Romania. “Patriot is the basis of air defense for 19 countries, and the system continues to demonstrate its effectiveness against advanced air threats and massive complex attacks,” Raytheon Technologies said. The announcement regarding the award of the contract was published on the website of the Department of Defense in Washington, which notes that the deadline for its completion is December 31, 2029. (Photo:https://www.rtx.com/raytheon/what-we-do/integrated-air-and-missile-defense/global-patriot-solutions)
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
