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New Loan from EBRD to Support Altex’s Expansion
The European Bank for Reconstruction and Development (EBRD) has granted a loan that spans eight years, featuring a grace period of 1.5 years. This financial support will finance 70% of the expenses associated with the construction of a new warehouse, which is set to cover an area of 55,000 square meters.
Enhancing Operational Efficiency
The execution of this project is expected to significantly boost operational efficiency by replacing a portion of existing warehouses and enhancing Altex’s logistics hub by 70%. This new facility will facilitate the retailer’s growth, particularly in the online segment.
Previous Financing from EBRD
This is not the first instance of Altex leveraging EBRD funds for warehouse expansion. In 2020, the retailer secured a loan of 12 million euros aimed at constructing a 37,000 square meter warehouse.
Recent Developments in Retail
In recent news, Altex has opened what it claims to be “the largest technology store in Romania,” located in the northern part of Bucharest. This development marks another step forward in the company’s ongoing expansion strategy.
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