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After the Romanian Revolution of 1989, Ploiești experienced rapid economic growth due to major investments from foreign companies.
The city is situated at just 60 km (37 mi) north of Bucharest, with promising infrastructure projects currently underway.
Although oil production in the region is declining steadily, there is still a thriving processing industry with four operating oil refineries, linked by pipelines to Bucharest, the Black Sea port of Constanța and the Danube port of Giurgiu.The world's first large refinery opened at Ploiești in 1856–1857, with US investment.The city is also remembered as the site of the self-styled Republic of Ploiești, a short-lived 1870 revolt against the Romanian monarchy.It flourished as a center for trade and handicraft manufacturing in the 17th and 18th centuries.The road connecting Ploiești to Brașov opened in 1864, and the railway arrived in 1882. In the mid-19th century the Ploiești region was one of the world's leading oil extraction and refinery sites.