Niro Group forms JV with Beijing Urban Construction Group
04 June 2008
Niro Investment Group and Beijing Urban Construction Group formed a joint venture in order to develop real estate and infrastructure projects in Europe. Beijing Urban Construction Group is one of the largest engineering design and construction companies in China.
''Niro Group will own 49% of the new company, Beijing Urban Construction Engineering & Niro, while the Chinese group will control 51% of its capital. In the next two years we will focus on projects for private companies'' Dumitru Nicolae, president of Niro Investment Group, stated.
The company is already negotiating its first contract with a developer, regarding the construction of a 25-storey tower in Bucharest, an investment of EUR 30 million, Dumitru added.