Banca Transilvania backs Turda Salt Mine with €14M for expansion

Banca Transilvania has pledged €14 million to aid in the expansion of the Turda Salt Mine, a major tourist draw in Romania. The entire project, which totals €25 million, is set to finish in two years.

The expansion focuses on improving the underground experience by converting the Iosif Mine into a new attraction, complete with panoramic lifts, walkways, and an artificial salt river. The Turda site, comprising the Iosif, Rudolf, Ghizela, and Terezia mines, is famous for its sections that extend over 100 meters below ground.

Tiberiu Moisă, Deputy CEO for corporate and SME banking at Banca Transilvania, expressed his enthusiasm for the project. "I am pleased that Turda Salt Mine is continuing to develop," he said.

The project also plans to upgrade the salt mine's treatment facilities. This investment is expected to boost tourism and provide economic benefits to the local community. The financing from Banca Transilvania is secured by Romania's Investment and Development Bank, ensuring solid backing for the venture.

TUD Investment Consulting has served as the intermediary for this initiative. Despite ongoing construction, the Turda Salt Mine will remain open to visitors, allowing them to continue experiencing this unique attraction.