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Belgian hypermarket chain Cora has announced has plans to invest almost 400 million euro in its Romanian expansion, half of which would come from a European Bank for Reconstruction and Development loan.
Local and sustainable hypermarkets
Cora’s plans consist of a number of hypermarkets in smaller cities, like a 12,500 m² store in Ploieşti – 60 kilometres north of capital Bucharest. The EBRD expects that the project will “generate strong linkages with local suppliers, thus providing the latter with new commercial opportunities with a reliable counterparty. The Project will also showcase the successful implementation of advanced sustainable energy solutions in retail building.”
The EBRD has approved the concept for the 210 million euro loan and filed the project for a final review, with the decision scheduled to be announced on 11 October. Cora already has seven hypermarkets (three in the capital), with an eight one in Arad near Hungary scheduled to open soon. Apart from Romania and its homeland Belgium, the Louis Delhaize Group subsidiary also has hypermarkets in Luxembourg, Hungary and France.
