Owner of construction company Amvic, Marin Crutescu, will invest some €50 million in a residential project in Ilfov County. The project is made up of houses will low energy consume. Construction will begin in 2009 and the market value of the complex will amount to some €100 mln, Crutescu told Business Standard.
He declined to provide the name of his associate, but said that financing will be made with their own funds and banking loans.
The project, built on 88,000 square meters, will include individual houses and buildings with two to five levels.
Amvic group numbers nine companies specialized in production of construction materials.