Business Forum • 3 July, 2024 at 2:51 PM
CTP, Europe's largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), announces the extension of the contract for 17,000 square meters of space at CTPark Craiova with Cummins Generator Technologies, a market leader in power solutions and a subsidiary of global power leader Cummins Inc.
Cummins Generator Technologies, operating under the market name STAMFORD | AvK, is renowned for providing ultimate power solutions with world-class expertise and 24/7 global lifecycle support. The company operates globally with over 2,600 employees, ensuring complete coverage with regional offices, manufacturing facilities, and partner dealers across the world. With manufacturing facilities strategically located in Craiova (Romania), Xinrong and Xiangjiang (China), Ahmednagar and Ranjangaon (India), as well as the Alternator Technology Centre in Stamford (UK), the company delivers high-quality alternators to meet the evolving energy demands worldwide.
Commenting on the contract extension, Mihnea Cornea, General Manager at Cummins Generator Technologies Romania S.A., stated, "We are pleased to extend our contract at CTPark Craiova, which plays a vital role in our global operations. This extension reaffirms our commitment to delivering exceptional power solutions and underscores our confidence in the strategic partnership with CTPark."
CTPark Craiova, spanning 10 hectares, features three buildings with a total leasable area of over 59,000 sqm and includes key infrastructure elements such as proximity to key transportation hubs, including the Craiova International Airport and ports on the Danube. Strategically located in the Southern part of Romania, the terminal boasts direct connections to major neighboring cities including Bucharest, Sofia, and Belgrade.
"CTPark Craiova stands as a gateway to success in Southern Romania, offering unparalleled advantages for businesses seeking to thrive in a dynamic and sustainable ecosystem. We are thrilled that Cummins Generator Technologies saw the potential of the region and decided to extend our partnership", said Andrei Bentea, Senior Business Developer, CTP România.
This transaction was advised by the real estate consultancy company Colliers Romania.
Located in the Southern part of Romania, CTPark Craiova boasts a strategic position along the European roads E70 and E79, facilitating swift connections to Pitesti and Bucharest. Its proximity to key transportation hubs, including the Craiova International Airport and ports on the Danube, ensures seamless access to international markets. Offering versatile facilities suitable for production, cross-docking, warehousing, and logistics R&D activities, CTPark Craiova serves as a prime location for businesses seeking optimal operational efficiency. Moreover, Craiova itself, situated just 200 km from Bucharest, is emerging as a vibrant investment hub in the Oltenia region.
With a focus on industries like gas, petroleum, and power production, Craiova prioritizes sustainability and modernization, presenting diverse investment opportunities post-EU accession. Backed by robust public transport infrastructure upgrades, a skilled workforce from a leading university, and modern business units equipped with advanced facilities, the city fosters an environment conducive to both business growth and enhanced quality of life.
Romania is CTP's second largest market, representing over 2.9 million sqm of its portfolio across Class A industrial and logistics space in more than 15 Romanian cities, including Arad, Brasov, Bucharest, Caransebes, Cluj-Napoca, Craiova, Deva, Oradea, Pitesti, Sibiu, Targu Mures, Timisoara, Turda, Ineu and Salonta.