Beltrame set for investment in a former steel mill in southern Romania

Beltrame Group received the authorization of the Competition Council for taking over the functional production assets of COS Targoviste.

The value of the transaction amounts to 38.3 million euros + VAT.

The French group has been present on the Romanian steel market since 2007 and owns the rolling mill in Călăraşi through the Donalam subsidiary.

Investments of over 400 million euros in Targoviste

In the next 4 years, approximately 100 million euros will be invested in the modernization of equipment, namely steel and rolling mills.

Another approximately 40-50 million euros will go to the insurance of the working capital. Initially, about 450-500 jobs will be created, and later it will reach approx. 1,000 new jobs.

At present, COS Targoviste still employs about 90 people, mainly for the maintenance of utility networks and the preservation of equipment.

To these investments is added the construction of a new eco-smart plant for the production of concrete steel and rolled wire, estimated at about 300 million euros.

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