The future oil factory to be built in the Galati Free Zone by the Ukrainian-Swiss-Cypriot company SunPro Oils has received its construction permit from the Galati City Hall. According to Viata Libera, actual construction work—carried out by a company based in the commune of Vanatori—is expected to begin by the end of August and will take no more than 12 months to complete. The future oil factory in the Galati Free Zone, built by SunPro Oils, has received its construction permit, meaning that work will begin soon—especially since equipment has already started to arrive, announced Mayor Ionut Pucheanu on Facebook. “This is an investment by the company SUNPRO OILS, and the construction will be carried out by the Galati-based company QUANTUM CONSTRUCT. This means new jobs. And it’s not the only investment here—because there are around 50 active contracts in the Galati Free Zone with companies from various sectors,” Mayor Pucheanu added. The Cypriot-owned company SunPro, with production capacities in Ukraine, announced in 2023 that it would invest 20 million euros in an oil factory in Galati and create over 200 jobs. In 2023, Sunpro Oils SRL, the company through which the investment in Galati would be made, was owned by two Cypriot companies, Koksi Holding LTD and Erdigma Limited with 50% and 25% of the shares respectively, while the remaining 25% belonged to the Swiss holding company Genfield Investments AG. In the meantime, the Swiss from Genfield Investments AG transferred all the shares in the Romanian company Sunpro Oils to a limited liability company in Cyprus, which was among the founders of the local entity. As a result, Erdigama now controls 50% of the business, while the remaining 50% of the shares remain with Koksi Holding Ltd, an investment vehicle active in the markets of Ukraine, the Baltic countries, Cyprus and Hungary. Koksi, the business of Cypriot entrepreneur Oksana Kushnir, has in its portfolio, in particular, investments in real estate and in the production of energy-efficient technologies. Sunpro Oils, however, continues to be supplied with money from Cyprus, with a capital contribution of over half a million euros recorded in November. The Swiss company Sunpro supplies sunflower oil to 11 countries around the world, with production being ensured in a processing unit in the Odessa area, Ukraine.
European Commission President Ursula von der Leyen will be in Romania on Monday, where she is scheduled to meet in Constanta with President Nicusor Dan and Prime Minister Ilie Bolojan, the Presidential Administration announced.Talks will focus on strengthening EU-NATO cooperation, as well as on issues related to the prevention, detection and deterrence of maritime […]
The Government approved the introduction of additional guarantees so that the exchange of information carried out for the purpose of preventing and combating terrorism is carried out in full compliance with the right to the protection of personal data, through a draft law supplementing Law No. 535/2004 on the prevention and combating of terrorism.According […]
National Defence Minister Ionut Mosteanu is attending on Thursday and Friday the informal meeting of defence ministers of the EU member states, which takes place in Denmark, Copenhagen, with discussions focusing on strengthening the military support provided to Ukraine.According to a National Defence Ministry (MApN) release, the ministers will also analyse the developments within the […]
An International Monetary Fund mission led by Joong Shik Kang will be in Bucharest from September 3 to 12 to review recent developments in the Romanian economy under Article IV of the IMF's Articles of Agreement, the international financial organization said in a statement."The IMF team will discuss economic developments and policies with the Romanian […]
Romania's government approved new regulations on Thursday, via ordinance, establishing a global minimum tax for multinational and large national corporate groups.According to a government press release, the measures are expected to positively impact the business environment by reducing the risk of misinterpretation of rules on additional or national top-up taxes, thereby lowering taxpayers' compliance costs.The […]
As many as 84% of Romanians say that the current economic situation of the country has directly influenced their lifestyle, reveals a survey conducted by Reveal Marketing Research released on Thursday.According to survey, in order to cope with the new living conditions, 49% of the respondents have reduced current expenses, such as food or […]
