The project, approved at a shareholder meeting earlier today, will be co-financed from European funds, Chimcomplex said.
Additionally, the company decided to borrow EUR8.5 million from Raiffeisen Bank to upgrade its power systems.
Chimcomplex is 83.8% owned by A2 Impex Ploiesti, a member of the Serviciile Comerciale Romane group, controlled by businessman Stefan Vuza.
On Rasdaq market December 8, Chimcomplex closed flat at RON0.23 a share.