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Romaqua Group gets EUR 6 mln state grant for development

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Romania’s Romaqua Group, best known as the producer of Borsec mineral water, will receive a RON 28.8 million (some EUR 6 million) state grant, according to data from the Finance Ministry quoted by Ziarul Financiar daily.

The grant will partly finance a RON 57.8 million (EUR 12.4 mln) investment, data shows, but the company’s officials were not available for specifying the nature or the specific investment project.

The company said last June that it envisaged investments in amount of EUR 30-40 million in 2019 for developing, among others, a new fruit juice plant in Azuga.

Romaqua Group is the largest Romanian beverage company, a market where it competes with the giants Coca-Cola HBC, Ursus, Heineken and PepsiCo. The Group has about 2,000 employees. It produces mineral waters (Borsec, Aquatique, Stanceni), fruit juices (Giusto) and beer (Albacher, Dorfer).

Its turnover rose to RON 726 million (EUR 159 million) in 2017, compared to 2016. Meanwhile, its net profit shrank by 5% to RON 71 million (EUR 15.5 mln) in the year.

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