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BUCHAREST (Romania), August 7 (SeeNews) - Turkish automotive components manufacturer Dogu Pres intends to invest 10 million euro ($11.6 million) in the construction of a factory for parts for diesel and petrol injectors in Romania, the Romanian ministry of business environment, trade and entrepreneurship said on Tuesday.
The greenfield investment project in Iasi, in northeastern Romania, envisages the construction of a production hall of 10,000 sq m on plot of land with a total area of five hectares, which will allow for a further expansion of the investment, the ministry said in a press release.
In the second stage of the project, the company plans to invest in the production of various types of auto pumps in Iasi.
"This investment in the northeastern region will bring 250 new jobs and will boost the horizontal development of the local economy," the minister for business environment, trade and entrepreneurship, Stefan Radu Oprea, said.
Romania was selected as the final destination for the investment, following a study by the Turkish company that spread over 12 months and considered several countries in the region.
"Dogu Pres chose Romania for a number of reasons, first of all because we want to be located in the European Union as close as possible to our customers," Dogu Pres board of directors said, according to the press release.
Dogu Pres was established in Bursa, Turkey in 1989 and has approximately 600 employees.