New investment to be made in Balti Free Economic Zone
18:31 | 03.12.2021 Category: Economic
Chisinau, 3 December /MOLDPRES/ - Invest Moldova has informed about the attraction of a new investment worth 14 million. It is about a mini-steel works due to be constructed on the area of the Balti Free Economic Zone (FEZ Balti). The company’s founders were born in Moldova and have experience of business management in Romania.
The plant will have a hall of 12,000 square metres and a production capacity of 150,000 tons of reinforced steel of 8-32 mm, with 5,000 tons monthly exported to Romania. The plant will use the technology of melting metal through induction, which is considerably more ecological, with some parameters of impact on the environment being much lower.
“As much as 20,000-30,000 tons of waste is monthly generated in Moldova; at the same time, there is a need of 16,000 tons of reinforced steel. Hence, we have a waste which is also a source of raw material for us; we turn it from a useless product for the society into a quite used product in the constructions sector. Practically, 70 per cent of such waste is generated in Chisinau, which is the biggest consumer of reinforced steel and we are at a distance of 35 km,’’ a representative of the investing company, Alexandru Rotaru, said.
The leadership of the Invest Moldova Investments Agency thanked the investors for the decision to build a plant in Moldova and assured them that the institution they lead would provide them with every support necessary. ‘’To develop a sustainable country, huge investments are needed; we talk about investments in education, in infrastructure and technologies and an Investments Agency plays a crucial role in the sustainable economic development. The attitude of a state towards such an agency is just as a litmus paper showing whether this state really wants to transform the country into a success story,’’ the head of the institution, Stelian Manic, said.
The enterprises, which will be placed in the Panasesti village, central Straseni district, will generate 250 jobs, with an average salary of about 600 euros per month for the staff involved in production. The plant will contribute to the region’s economic development also through the annual procurement of raw material from local producers worth 40 million euros.