The Prodplast plastics factory in Bucharest, close to the Bucur Obor market in the Romanian capital, should be relocated to make room for a new shopping center. Shareholders in the company, which is controlled by businessman Florin Pogonaru and SIF Oltenia, decided to divide the real estate arm of the company and dedicate one of the plots, the one where the factory is located, to a shopping center.

The project would thus be on the opposite side of the street from the new Obor meat and vegetables market, developed by businessman Gabriel Popoviciu, who also owns Baneasa Shopping City. Another former factory, Aversa, on an adjoining plot to Prodplast, could become a real estate project, as the factory became insolvent and currently selling its assets.

Prodplast's production stopped in May this year, in view of the relocation. The shopping center will in a first phase be developed on one of the four hectares of land. The company is currently looking for a partner in the project, as well as financing sources.

Prodplast divided into a real estate arm and a production arm in 2008. The factory, set up in 1957, is now listed on the Bucharest Stock Exchange.

editor@romania-insider.com

(photo source: photoxpress.com)