Romanian state-owned bank EximBank has granted a loan of EUR 11 million to the local firm Electrogrup, to support its operations abroad.

The company will take part in an investment project in Poland, where it has a subsidiary.

Electrogrup was set up in 1997 by two Romanian entrepreneurs, two brothers called Teofil Muresan and Simion Muresan. The Cluj-based firm has opened subsidiaries in Germany, Russia, and Poland in recent years. It has taken part as constructor in a series of investment projects in those countries.

The company aims to become a “multinational with Romanian capital”, said Teofil Muresan, one of the co-founders. Electrogrup specializes in energy and telecommunications infrastructure projects.

In 2015, the company had a turnover of EUR 29.6 million and a net profit of EUR 3.66 million, with some 290 employees.

editor@romania-insider.com