Clothing manufacturer Braiconf from Brăila (BVB: BRCR) has obtained shareholder approval for a EUR 10 million loan through which it will undergo an urban reconversion to transform a former industrial site into a modern multifunctional hub, Ziarul Financiar reported.

The company reported RON 17 million in revenue and RON 0.5 million loss for 2024. 

Braiconf has a capitalization of RON 15.5 million (EUR 3.1 million) after the price of its shares dropped by 30% y/y. The majority shareholder is Industries Benjamin limited liability company controlled by Constantin Ştefan, the president of Braiconf.

Braiconf Plaza will include five components: Industrial Area – production units for textile garments, preserving the Braiconf tradition; Commercial Area – fashion stores, electronics, home appliances, hypermarkets, restaurants, cafes, bookstores, teahouse; Services and Health Zone – medical clinics, pharmacy, medical optics, notary, bank, gym, beauty centre, dry cleaner; Residential and Aparthotel Zone – premium housing and aparthotel units for investors and tourists; and Office Zone – modern workspaces for entrepreneurs and companies.

iulian@romania-insider.com

(Photo source: Facebook/Braiconf)