TeraPlast to build €10m factory

by   CIJ News iDesk V
2020-11-18   09:41
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The TeraPlast group will build a new factory within the TeraPlast Industrial Park in Saratel, Bistrita-Nasaud County. The investment is valued at €9.8m. The company submitted a request for project funding under the state aid scheme, amounting to €4.9m. The investment covers both the construction of new buildings and the purchase of high-productivity equipment. The products that will be manufactured in the new unit will be for water, irrigation and gas networks.
“In total, the projects submitted under the state aid scheme amount to €32m and at maturity will generate an EBITDA of €8.6m. We want these projects to largely offset the sale of the Steel division, which last year contributed €11m to the group's consolidated EBITDA,” said Alexandru Stânean, CEO of TeraPlast.