The TeraPlast Group has received the approval for the financing agreement for the project to set up a new polyethylene systems production unit. The project has a total value of 10 million euro, and the state aid represents 4.9 million euro. This is part of the investments of over 32 million euro that the Group has undergoing.

“This year we announced record results, but we were limited by production capacity. The fact that the infrastructure works have accelerated is a sign that Romania is finally mobilizing to fulfill its obligations. We still have a lot of work to do until we reach a percentage of 99% of the population connected to sewage and gas, like our neighbors. We have additional funds available for both canal water and irrigation projects…We are investing in a new factory, but at the same time we are investing in the development of the Romanian production, in the development of the Romanian infrastructure and we are contributing to the stabilizing of the trade balance,” said Alexandru Stânean, CEO of TeraPlast.

The project involves the construction of a new factory in the TeraPlast Industrial Park in Sărățel, Bistrița-Năsăud County and the purchase of state-of-the-art equipment. The new plant will produce polyethylene systems for water, irrigation and natural gas. The project will be completed in February 2022 and will create 80 new jobs.

For 2020, the TeraPlast Group estimates a consolidated turnover of 225 million euros, 12% more than in 2019.