The company has also asked for state aid worth EUR7.3 million, which has yet to be approved, AdePlast owner Marcel Barbut said in a press release Monday.
The plant should be opened in about two years and is to employ some 115 people, Barbut said.
On October 2, AdePlast launched an offering to sell 16.4 million shares and aimed to raise between 57.8 million lei (EUR13 million) and RON66.7 million (EUR15 million). The company said it planned to use the money to build a basalt fiber plant, an investment estimated at EUR19-20 million.
The offer ended unsuccessfully as it was undersubscribed.
AdePlast registered sales of EUR50 million in the first ten months of 2013, up 23% on the year.
Founded in 1996, AdePlast runs nine plants in Romania, in the cities of Oradea, Ploiesti and Roman. The company produces a wide variety of construction materials, including adhesives, mortar and paints.