The plant will be located in the same county, Dambovita (southern Romania), and will require a EUR105 million investment, which makes it one of the biggest greenfield projects in the local economy in recent years.
“The general meeting of shareholders on February 15 approved the development of the ‘Washing machines – a new Arctic plant’ project and the application for state aid. The total value approved for the investment is EUR105 million excluding VAT and the state aid requested stands at EUR37.5 million,” Artic representatives said in the first official statement since ZF published the news about a new plant in Romania.
Arctic’s owner is Turkey’s Arcelik.
The manufacturer’s officials said that the shareholders also approved reinvesting EUR70 million from its profit to finance the construction of the plant but did not say how many jobs it would create.
Arctic will build the washing machine and dishwasher plant on a 70-hectare plot in the town of Ulmi, Dambovita County, 30 kilometers away from its refrigerator plant in Gaesti.
(English version by Loredana Fratila-Cristescu)