A new investment project to the value of €14 million will generate 250 jobs. The steel processing company Omni Steel today announced its investment project. The company will use raw material (scarp iron) purchased from local business entities and will use induction smelting technology that has a reduced impact on the environment, IPN reports.

In the launch, Minister of Economy Sergiu Gaibu expressed his confidence that the project will be an example to be followed by other investors. “We are witnessing an event that supports the Ministry of Economy’s strategy for developing the national economy: investments in developing industrial platforms and creation of jobs; attraction of the diaspora home for putting into practice the experience gained abroad, in this case the transfer of technology from Romania; cooperation between the IT sector and other industries, one of the investors being an entrepreneur in the IT sector,” said Sergiu Gaibu, being quoted in a press release of the Ministry of Economy.

Omni Steel is based in Pănășești, the Strășeni subzone of the Bălți Free Economic Zone. The production process is set to start next autumn.