The project will be co-financed from European funds, Chimcomplex said.
Additionally, the company wants to borrow EUR8.5 million from Raiffeisen Bank to upgrade its power systems.
The proposals are subject to shareholder approval at a meeting due December 12.
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 Tuesday, Chimcomplex closed flat at RON0.26 a share.