April 24 (SeeNews) - Romania's finance ministry said on Wednesday it has approved 151.1 million lei ($36 million/32 million euro) in state aid to support nine investment projects.
The nine projects are worth a total 379.1 million lei including the state financial aid and will help create around 882 jobs, the ministry said in a statement.
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"The signing of the nine projects is part of the government's policy to encourage investments with a major impact on the economy. As we have repeatedly pointed out, 2019 will be the investment year, so that everyone who wants to invest in the Romanian economy could be able to do so," finance minister Eugen Teodorovici said.
The projects will contribute 175.4 million lei to the regional development budget through additional fees and taxes paid.
The biggest chunk of the aid, of 39.2 million lei, will go to automotive components manufacturer Coskunoz for setting up a new production site for vehicle chassis sub-assembly parts.
Drinks producer and bottling company Maspex Romania will receive a total of 45.5 million lei for two projects - 23 million lei for expanding two lines for juice production and 22.5 million lei for purchasing equipment for bottling of natural and carbonated mineral water.
A further 22.1 million lei will go to tourism company Nymphaea Resorts to build a new 4-star hotel in Oradea.
Mennekes Electric, a manufacturer of charging infrastructure for electric vehicles, will receive 17.6 million lei for a greenfield investment for the production of charging cables for electric cars.
The state will grant 9.3 million lei to Heraeus Romania for the expansion of its current production line for printed circuit boards on ceramic substrates.
Romanian producer of three-phase and single-phase asynchronous induction motors Electroprecizia Electrical Motors will receive 7.5 million lei to expand its production capacity.
Rossini Sleeve Technologies will expand its production capacity of glass fiber base and composite materials for the flexographic and rotogravure printing with the help of a 6.1 million lei state financial aid.
Finally, the finance ministry approved a 3.8 million lei state aid for meat producer CIA Aboliv for expanding production capacity.
According to the 2019 state budget law, Romania will grant state aid in excess of 1.6 billion lei for investment projects with a total value of over 4 billion lei.
(1 euro=4.7560 lei)