Varta seeks 100 ha of land near Arad to build electric car battery factory

German group Varta seeks 100 ha of land close to Arad, western Romania, as a potential location for a EUR 1 bln e-vehicle battery plant, Economedia announced, quoting sources familiar with the negotiations.

State secretary in the investments and European projects Roxana Minzatu announced for the first time, in early March, about the German company including Romania among the possible locations for its next plant. She said at that time that various state support options were discussed in a meeting with the investor’s representatives.

The area of interest has narrowed to the Arad area close to the border with Hungary, the sources told Economedia, adding at the same time that at least 1 mln square metres of land is needed for the project. The procedure of selecting the location is still in its infancy, it is not 100% certain that Romania will be selected, the sources added.

Separately, Varta’s subsidiary Varta Microbattery already operates a local battery factory in Brasov where it hires 447 and reported revenues of around EUR 90 mln in 2020.

In 2019, the company received state aid of EUR 25.3 mln (over EUR 5 mln) for an investment of RON 50 mln aimed at expanding production for batteries for hearing aids.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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Varta seeks 100 ha of land near Arad to build electric car battery factory

German group Varta seeks 100 ha of land close to Arad, western Romania, as a potential location for a EUR 1 bln e-vehicle battery plant, Economedia announced, quoting sources familiar with the negotiations.

State secretary in the investments and European projects Roxana Minzatu announced for the first time, in early March, about the German company including Romania among the possible locations for its next plant. She said at that time that various state support options were discussed in a meeting with the investor’s representatives.

The area of interest has narrowed to the Arad area close to the border with Hungary, the sources told Economedia, adding at the same time that at least 1 mln square metres of land is needed for the project. The procedure of selecting the location is still in its infancy, it is not 100% certain that Romania will be selected, the sources added.

Separately, Varta’s subsidiary Varta Microbattery already operates a local battery factory in Brasov where it hires 447 and reported revenues of around EUR 90 mln in 2020.

In 2019, the company received state aid of EUR 25.3 mln (over EUR 5 mln) for an investment of RON 50 mln aimed at expanding production for batteries for hearing aids.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

Normal
 

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