The group has relocated the factory's activity outside the city and is now demolishing the existing structure. Construction works should start next spring and will end in autumn of 2009.
The project will feature shopping gallerias on 4,000 sqm, a supermarket and a do-it-yourself store.
Bega Grup was established in 1996 and runs 40 companies active in oil drilling, car assembly and real estate. It has 8,000 employees. The group owns three hotels, office buildings and commercial and industrial spaces. Currently, it is developing Parcul Industrial Faur, comprising 80 hectares located in eastern Bucharest. The businessmen plan to invest EUR 30 million in setting up 10 hectares of industrial halls on the platform.
The group owns Bega Shopping Center Timisoara, where it will re-order the tenant mix, according to previous announcements. The new shops are scheduled to be opened at the end of 2008 or the beginning of 2009.
The Bega Grup owners hope to achieve a EUR 350 million turnover this year from the holding, up 16 percent on last year. The group includes companies such as Begachim, Chimforex, Foraj Sonde Craiova, Bega Com, Bega Turism, Bega Trans Auto and Bega Imobiliare.