New bank for Poland
Italy’s Carlo Tassara plans to launch a new bank in Poland. The institution will be built from scratch, making it the biggest start-up in the history of Polish banking. The project is expected to cost $586.84m. The bank will concentrate on small and medium businesses. About 1000 people will be employed in the early stage of development, with initial capital amounting to $600m.
Auchan plans Portugal malls
Private French retail group Auchan plans to invest more than $376m in shopping centres in Portugal by 2010. Immochan, the real estate division of the Auchan group, said it would open a shopping centre in Alfragide and planned to build at least three more malls, which would lead to the creation of 3700 direct jobs.
Russian-Swiss joint venture
Development and management company Russian Land and Swiss construction group Implenia have agreed to set up a joint venture, Russian Land Implenia (RLI). RLI will build elite housing and infrastructure in Russia, using the advantages of the rapidly growing Russian market.
Montenegro attracts Mirax
Corporation Mirax Group, a major Moscow-based developer, plans to invest $289m in the construction of a recreation centre, Astra Montenegro, on the Budva Riviera of Montenegro’s Adriatic coast. The project is due to take three years and cover an 8.7 hectare area. The residential area will total 94 million square metres.
German-Greek cement project
Germany’s Cemag and Greek firm Pan Adriatic are interested in constructing a cement works in Pljevlja, Montenegro, which would employ 500 workers and cost $361.6m. Cemag said it planned to produce 1.5 million tons of cement a year in the first phase, and three million tons a year in the second phase, meeting the needs of the local market and neighbouring countries.
Lilly plans Tuscany plant
US pharmaceutical company Eli Lilly plans to invest $368.48m to create an insulin production site in Sesto Fiorentino, in the Italian province of Tuscany. About 400 on-duty operators have been trained for the new production, and an additional 250 people are due to be hired.
Kronospan moves into Perm
Kronospan of Austria has announced it will construct a standalone chipboard factory in the Dobryanskiy district of Russia’s Perm region. Investments in the project will total about $434m.
Tyer wins Shell complex
Shell has said it plans to build a complex in the Tver region of Russia to blend and package motor oils. Construction is due begin this year.
This investment news and data has been provided by OCO Global, a provider of strategic consulting services for economic development organisations in the area of FDI. Key services include management consultancy, investor targeting services, training and mentoring, and software development.
EUROPE FDI (NUMBER OF PROJECTS):
Source: OCO Global
EUROPE FDI (CAPITAL INVESTMENT):