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EBRD funds 5 million Euro investment in factory near Ploiesti

2014-04-05 17:31:36 - From the Print Edition

The Spanish manufacturer of hydraulic components, Grupo Industrial Roquet, received 5 million Euro from the European Bank for Reconstruction and Development (EBRD) in mid-February to build a factory near Ploiesti, according to Mediafax. "The loan will be used to co-finance a new factory," said the EBRD, quoted by the newswire. "To meet the growing demand for its products, the company decided to expand its production capacity by opening a new plant. Romania was chosen because of its competitive advantages." Construction is scheduled to begin in April this year, but production is planned to start in 2015. Roquet will produce large-diameter cylinders, used in the production of capital goods, mainly in agriculture and construction equipment.
"When we looked at various destinations for investment, we realized that Romania offers many advantages, including a positive business atmosphere," said Cipriano Gomez, the executive director of Roquet Hydraulics. "The strong support of the EBRD was the decisive factor in our decision to build a new factory in Romania, the first plant outside Spain." Grupo Industrial Roquet has four factories in Spain where it produces pumps and hydraulic cylinders, control valves and various components for hydraulic applications.



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