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Nov 13, 2009 17:20 EEST
BUCHAREST (Romania), November 13 (SeeNews) – The European Investment Bank (EIB) may lend 50 million euro ($74.4 million) to Italy’s Pirelli tyre plant in Romania to finance increase of its production capacity, EIB said.
"The project is meant to make Pirelli's production capacity more competitive and allow it to further benefit from a cost effective production base, close to the markets of Central and Eastern Europe," EIB said on its website.
The total cost of the project, which is pending approval by the bank, is 159 million euro.
Pirelli Tyres Romania is located in Slatina, southwestern Romania. Pirelli also owns a factory for steelcord production in Slatina and a plant for particulate filters for new cars in Bumbesti Jiu, also in southwest Romania.
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