Belgium-based intelligent warehouse solutions provider Warehouses de Pauw (WDP) has announced that it will build a new €40 million warehouse for Italian tyre manufacturer Pirelli in the southern Romanian city of Slatina.
The warehouse will be 62,000 m² and is to be located right next to an existing Pirelli facility. The two buildings will be directly connected.
Construction work is expected to be completed by the third quarter of 2020 and Pirelli will rent the facility for 15 years.
Image: Pirelli
Pirelli announced in March 2016 that it intended to invest €200 million in Romania by 2021 so to increase production there by 50%.
The European Investment Bank said in December that it would be lending €150 million to WDP in order to finance the complex of 43 warehouses in the Romanian convergence region.
WDP invests in and develops logistics property, in particular warehouses and offices. The company has a property portfolio covering around 4 million m², spread across 180 sites at prime locations for storage and distribution in its native Belgium, as well as France, Netherlands, Luxembourg, and more recently Romania.
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