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EBRD supports improved telecommunications in Romania
Telephone callers in Romania will benefit from much improved service due to a DM 12 million equity investment in EMCOM S.R.L., a Romanian telecommunications company, signed today by the European Bank for Reconstruction and Development. EMCOM S.R.L. is a joint venture between the German-based conglomerate Siemens AG; Electromagnetica, a Romanian state owned manufacturer of switching equipment; and Rom Telecom, the state owned telecommunications network operator.
The project provides funding to partially finance the installation of a manufacturing plant to produce digital telecommunications switching equipment, which is essential to modern communications networks and will lead to faster and more efficient connections.
"By increasing competition in the telecommunications industry, this project helps bring modern telecommunication practices to Romania, both in the manufacturing industry and in the modernisation and expansion of the telecoms network," said Edouard Altenhoven, Co-Team Leader of the EBRD's Telecommunications team.
EMCOM S.R.L. manufactures state-of-the-art public digital switching and transmission systems, primarily for the Romanian market.
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