Posta Romana inks financial deal with EximBank to go digital

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National Company Romanian Post (CNPR) has concluded a financing agreement worth of RON 200 Million with EximBank, which won the competitive procedure organized by the company and entered by several banks. The financing provides the necessary resources for starting the most extensive investment program in the last 40 years aiming at upgrading services and going digital.

The ceremony of signing the financing agreement by Horia Grigorescu, General Director of CNP and Traian Halalai, Executive President of EximBank was also attended by Lucian Bode Minister of Transportation, Infrastructure and Communication.

The investment program of the company aims at consolidating and securing the market leading position in Romanian postal sector and is based on the professional recommendations of Deloitte according to which reaching the business targets needs investment in postal infrastructure, in its upgrading and digitalization as well as in the human resources.

The loan granted by EximBank for a 12 years tenor will be used mainly for:

  • logistic processes automatization by setting up new transit /sorting centers in Bucharest North and Cluj – 69 Million Lei;
  • creating and implementing of an integrated digital system management architecture (hardware and software), needed for insuring the informational flows (ERP and its modules) –128.3 Million Lei;
  • rehabilitation of historical buildings in Timisoara, Piatra Neamt, Oradea and Cluj and their valorification in terms of commerce, culture and history–54.5 Million Lei.

By concluding this financial agreement with EximBank we have turned a new page in the history that we create in terms of Romanian postal services. We are starting now an unprecedented stage – a vast modernization process that Romanian Post has not implemented since the interwar period that will bring the company to the international standards in its field of action. We are discussing with the World Bank, the European Commission and the Ministry of European Funds in order to finance, the investment started with the EximBank loan so that on the long term Romanian Post will become a  high reference competitor in the market.”, said Horia Grigorescu, General Director of Romanian Post.

The company representative added that Romanian Post is benefiting from some of the best financing terms on the banking market.

The competitiveness of EximBank offer transforms our partnership with Romanian Post in a tradition meaning that we are able to face challenges, to be open to new approaches and to adapt to our partners needs. These are features that allow us to continue and to expand our cooperation with companies having ambitious development plans, as the Romanian Post, for which we can provide the necessary financial resources for successful implementation of investment plans”, said Traian Halalai, Executive President of EximBank.

In order to implement the mentioned investment plans, the National Company Romanian Post has started the feasibility study for the transit center Bucharest North, with an estimated delivery date to the end of this year whilst for the transit/sorting center in Cluj the competitive dialogue procedure has been started for equipment acquisition.

In terms of the investment in the digital accounting system, the open procedure for acquisition in on course for the drafting of the system architecture.  With regard to the building rehabilitation, the respective authorizations have been issued in Timisoara and Oradea so that the rehabilitation services acquisition will soon start, in Cluj the application for the authorization is filed up and in Piatra Neamt the authorization procedure is in the preparation process.

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