The development will amount to EUR500 million and double the size of the company’s portfolio.
The land plot is part of Griro platform that is made up of 14 hectares.
The deal between Speedwell and Griro is valued at some EUR40-50 million.
Speedwell plans to develop a large project set to include around 2,000 apartments, 60,000 square meters of offices and services, leisure facilities and green spaces.
GRIRO, a company with a 120-year history, started out as a railroad carriage repair business – Atelierele Grivita, and is now a manufacturer of complex equipment for refineries, petrochemical, chemical and fertilizer industries, and other related industries.
(English version by Catalina Apostoiu)