Italian investor ponders EUR 300 mln rebar and wire plant in Romania

Italian group AFV Beltrame, which owns in Romania a steel plant specialized in the production of hot rolled steel bars and special steels, discussed with local authorities in Buzau county the option to invest EUR 300 mln in a production facility dedicated to producing rebar and wires, News.ro reported.

The sole rebar producer in Romania, COS Targoviste, is on the verge of bankruptcy after prolonged insolvency.

The investment would create 250 permanent, direct jobs plus at least 800 during the construction phase and about 150 in the production phase.

According to representatives of the Italian group, this will be the first greenfield project in recent decades in steel production in Romania and will set a new standard for the steel industry in reducing pollutant emissions.

The production unit will include a steel plant and a rolling mill that will be supplied with electricity from renewable sources, by building a photovoltaic park with a capacity of 100 MW.

The eco-smart plant will have the lowest level of emissions generated by a global steel production unit, both in terms of greenhouse gases and suspended dust (dust). Also, water consumption will be minimal, through treatment and recirculation, ensuring the highest level of a circular economy.

(Photo: David Tadevosian | Dreamstime.com)