Nokia to build EUR 200mn plant in Romania
The world's top mobile phone maker plans to build a EUR 200mn plant in Romania, a government official said Friday.
Saturday, 24.03.2007.
10:01
Nokia to build EUR 200mn plant in Romania
A spokeswoman for the Finnish-based company in Helsinki said no agreements have been signed, but pointed out that a 30 percent increase last year in the manufacture of Nokia phones had placed strains on production capacity.The Romanian government will co-finance the investment by setting up infrastructure worth EUR 33mn , including electricity, running water and sewerage systems. The plant will employ 15,000 people.
Foreign investors are eager to set up manufacturing facilities in Romania, hoping to benefit from low taxes, and a cheap and skilled workforce.
Romania, which joined the European Union in January, expects foreign direct investments to reach EUR 7bn this year, following a record EUR 9.1bn in 2006.
However, the head of Romanian Agency for Foreign Investments told Reuters in an interview earlier this week it expects greenfield investments to hit successive record highs in coming years.
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