The total eligible value of the project is EUR4.2 million, of which the non-reimbursable financial assistance is EUR1.9 million, the company said in a note to investors.
The project is schedules to be implemented within 20 months.
The company said the goal of the project is to increase its competitiveness by building and putting into operation a new ceramic-coated, environmentally friendly production line.
The project entails the construction of a new production hall and the acquisition and installation of state of the art equipment necessary for the six stages of production of the ceramic coating, including two electric forklifts.
The project is carried out in partnership with International Development Norway, a Norwegian organization with over 20 years of experience in developing good practice projects in the field of eco-business.
Cemacon reported a net profit of RON7.2 million in the first quarter of 2021, down 32% on the year.