PM Ciuca tells Beltrame group officials gov't supports industry investment

The Romanian government supports the development of investment projects for the industry for the modernisation of the national economy, Prime Minister Nicolae Ciuca told a meeting with officials of the Beltrame group, after the group completed the acquisition of the Targoviste Special Steel works, Agerpres reports.

Ciuca underlined the government's support for the development of investment in industry, for the modernisation of the national economy, access to new technologies, the creation of new jobs for Romanians and high value-added products for the local and European markets.

"We are investing heavily in the coming years using European funds and the national budget. The country's raw materials and high quality products are needed to keep pace with the economic development effort in ways that support the quality of life and protect the environment," said the prime minister.

At the meeting, Beltrame presented plans for major investment in retooling for the eco-friendly production of special steels.

"The investment of more than 250 million euros that the Beltrame Group will make in Targoviste will transform the old plant into the most up-to-date factory for the production of special steels, with carbon emissions at one of the lowest levels in Europe. Production will start in the coming months. Officials of the group announced that they plan to develop a new plant in Targoviste for the production of reinforced concrete and laminated cable. These investment projects will generate 200 new jobs in the first stage, and by the time the development plans are completed there will be more than 1,000 jobs in all. Investors will build two solar parks that will supply electricity to production facilities," reads the release.