PM Ponta, Chinese ambassador open works site in Craiova for residential site, EUR 40m investment

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Prime Minister Victor Ponta and the Chinese Ambassador Xu Feihong officially opened on Tuesday the site for building a residential neighbourhood in Craiova by a Chinese company.

The project is a pilot investment in Romania, the first signed by a local administration with a Chinese company, Agerpres informs.

On this occasion, Craiova Mayor Lia Olguta Vasilescu said that this would be the largest neighbourhood built in this south-western Romanian city since 1989, at a very reasonable price for the local market, EUR 400 per square meter plus 5 percent VAT.

The new residences will benefit from a day-care centre, parking spaces, commercial areas and a swimming pool; they will be to quality and up to the legal standards, she mentioned.

The EUR 40 million investments is financed by the Chinese party, but it employs local workforce and the building materials will be purchased from the local market, mayor Vasilescu added.

The Municipality of Craiova contributed land it got from the Ministry of Defence, under a memorandum with Shandong Ningjian Construction Group of China, for 23 blocks comprising 1,819 studios, one and two-bedroom flats and penthouses, with a total surface of 182,000 square meters.

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