The memorandum will not guarantee that Romania will host voestalpine’s steel combine, but only state the terms and conditions of the investment. Yet some real estate moves indicate that Austrians might have reached a decision. In addition to the land concession from the state for 50 years, voestalpine will have to buy private property if they decide to run their investment in Romania, and group’s representatives revealed that almost half of the land area targeted in Agigea is already secured. However, Austrians have complained that the contracting process is carried out with difficulty, especially because of the bureaucracy.
Another hint comes from the port of Constantza: if voestalpine chooses Romania instead of Bulgaria, Ukraine or Turkey as destination for the 7 billion Euro investment, it will depend on Comvex, the largest operator of dry bulk cargo in the Black Sea, which announced ambitious expansion plans. In its berths, Comvex already operates large ore and coal carriers, and increasing handling and storage capacities may be targeting voestalpine.
