Siad Romania will earmark â‚¬25m for a Greenfield investment project to be carried out on the former Siderca industrial platform of Calarasi.
According to ACT Media news agency the investment will bring about an industrial gas production facility to supply liquid oxygen, nitrogen and argon to the local industrial companies, which include TenarisSilcotub steel maker as the main customer.
The agency reports that this will be the second investment in industrial gas in Clarasi, after the project of Air Liquide Italy.
'We have noticed that there are big opportunities in Clarasi, as there are world renown companies operating there, including Saint-Gobain and Tenaris. Tenaris is of relevance to us, as the Tenaris-Siad partnership has a successful history in Italy.
'To us, their presence signified the local environment stimulates business growth,' said Siad Romania general manager Cristinel Mihailescu.
The new investment project will be an attempt by Siad to consolidate its stand in Romania and the region, Siad officials said.
The company also plans to finalise late this July its â‚¬5m project for an industrial gas bottling facility on the outskirts of Bucharest City.
Siad Romania has so far been an importer and supplier of industrial gas, as it did not have production facilities. The management of Siad Romania expects a business turnover of some â‚¬1.9m, up approximately 20 per cent from 2004.