June 25 (SeeNews) - Romanian spring water, flat and carbonated water bottling company Aqua Bilbor said on Friday it plans to invest some 10 million euro ($11.9 million) in order to reach a production capacity of over 100 million liters per year by the end of 2023.
Aqua Bilbor intends to buy a 30,000 sq m land plot in order to build new bottling and storage facilities, find and develop new water sources and purchase new equipment, it said in a press release.
"In 2021, Aqua Bilbor aims to reach production of 20 million litres and a turnover of up to 25 million lei ($6 million/ 5million euro). Also this year, the management plans to invest 2.5 million euro in a new production hall and a line for five-litre bottles," Aqua Bilbor manager Constantin Degeratu said.
In the next two years, Aqua Bilbor plans to invest 7.5 million euro to increase production and storage capacity to over 100 million liters per year.
"At this moment the company has 30 employees and by the end of the year, we can reach 60 employees. With the expansion of production capacity to over 100 million liters per year, the staff could double to 120 people in 2023," Aqua Bilbor development director Cristian Serban said.
The investments will be financed through the company’s own capital, bank loans and EU funds.
Aqua Bilbor bought the Bilbor Mineral Water factory in Harghita county in 2019. Since the acquisition, the company has invested 5 million euro in new machinery, equipment upgrades, production and storage capacity.
($=0.8373 euro)