Swedish Romanian Chamber of Commerce

Bridging

Nations

and

Businesses

News

May 12 2014

Press Release on the Swedish – Romanian – Saudi Arabian joint Venture

Bucharest – Stockholm 12th of May 2014

Following the joint venture agreement between the Swedish company, Stockholm Vind AB and the Romanian partner, Petroconstruct Group SRL, a meeting between the two parties and Stockholm Vind AB’s partner from the Kingdom of Saudi Arabia, Al Asfer Est., a joint meeting has been held in Istanbul, Turkey between the 6th and 9th of May 2014.

IstanbulThe meeting laid the grounds for the start of the building project in the Kingdom of Saudi Arabia to be executed by the parties where the Saudi partner is the main contractor.

The estimated value of the first project to be executed by Petroconstruct Group SRL, a 100% Romanian owned company together with its partners, is of 54 million € during the 2014 and next fiscal years.

The project will start during the next few months and will bring new jobs for a large number of individuals as well as new businesses and opportunities for suppliers and subcontractors of Petroconstruct Group SRL as well as tax revenues for Romania.

Jan 11 2014

New Joint Venture signed between Swedish and Romanian Companies

BUCHAREST 10th of January 2014

PRESSRELEASE

SWEDCHAM is pleased to announce one of the most important Joint Venture project signed between a Swedish group of company and a Romanian Consortium with the purpose of providing building services in the Kingdom of Saudi Arabia.

Yesterday the 10th of January 2014 has been signed in Bucharest, the Joint Venture Agreement between Stockholm Vind AB, a Swedish company, contractor of several large sized building projects in the Kingdom of Saudi Arabia and a Romanian consortium of companies under the leadership of S.C. Petroconstruct GROUP S.R.L as General Contractor.

The new formed Joint Venture will participate and engage in various building projects in the Kingdom of Saudi Arabia in the next five years.

The projects will provide the parties with new opportunities in the region, thus creating new opportunities for subcontractors and vendors of services and products.

The Joint Venture will offer new job for Romanian workers and companies thus bringing new financial resources through tax incomes.

SWEDCHAM has been the initiator and provider of support to the Joint Venture and is proud to add a new finalized project to the list already successfully closed deals between Romanian and Swedish companies.

CONTACTS:

For Petroconstruct Group SRL

Homepage: http://www.swedcham.org/petroconstruct-group/

Email: office (at) petroconstrctgroup.ro

For Stockholm Vind AB

Mr. Carl-Johan Hästesko, Legal Representative

Email: hastesko (at) me.com