March 24 (SeeNews) - Portuguese glass packaging manufacturer BA Glass Group said that it will invest 150 million euro ($161 million) in Romania in the next five years.
The group is currently investing 70 million euro in a glass furnace and a 25,000 sq m warehouse at its factory in Bucharest, BA Glass said in a press release on Thursday.
The warehouse will be expanded additionally, to reach 50,000 sq m.
"This new investment will bring additional capacity for our customers and we estimate that it will available in the last quarter of this year," BA Glass CEO Sandra Santos said.
BA Glass entered the Romanian market in 2017 after buying glass maker Stirom from its Greek parent Yioula. Currently, BA Glass Romania produces approximately 2 million glass containers each day. The company aims to double its production capacity over the next three years.
The group will invest more than 1 billion euro over the next five years in its 12 factories located in Portugal, Spain, Poland, Germany, Greece, Bulgaria, and Romania, the release further showed.
BA Glass produces more than 11 billion glass containers each year, which it sells across 70 countries. The group employs nearly 4,000 and has had a turnover of about 1.4 billion euro in 2022.