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Nov 24, 2017 17:42 EEST
November 24 (SeeNews) - Rockwool Group said on Friday that it plans to build a basalt mineral wool production plant in Romania, a project worth an estimated 50 million euro ($59.3 million) investment.
The basalt mineral wool plant, Rockwool Group's first in Romania, will create around 150 jobs, while additional 300 will be created indirectly in services and logistics, Rockwool said in a press release.
The process of issuing permits and authorizations was already initiated, so that production of basalt mineral wool is expected to start in 2019.
The new production unit will spread on approximately 30 hectares in Ariceştii Rahtivani commune near the southern city of Ploiesti. The project will strengthen the group's strong presence in Romania, a market that has been active for almost 20 years through its local sales branch.
The plant will contribute to the growth of the local economy, given that most of the raw materials and logistics services will come from Romania, and most of the workforce directly employed by Rockwool or the subcontractors will be local, the company said.
"This investment will allow us to better support Romania's efforts to increase fire safety and energy efficiency in its buildings. We encourage the Government to continue to work with the EU Member States within the Firefighting Information Exchange Platform (FIEP) as well as other initiatives that will improve the fire safety regulations," Rockwool Group senior vice president Gilles Maria, said.
Rockwool Group is a multinational manufacturer of mineral wool products headquartered in Copenhagen, Denmark.
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