The company Romcab based in Romania’s Targu-Mures intends to invest €20 million in the construction of a factory in the Straseni subzone of the Balti Free Economic Zone. The company is an important producer of cable and conductors that in 2013 reported a turnover of €80 million, IPN reports, quoting a communiqué from the Ministry of Economy.

Romcab will be the tenth resident of the Straseni industrial platform. It intends to invest €5 million this year and another €15 million next year.

Minister of Economy Valeriu Lazar said the industrial platform in Straseni is the first private territory of a Free Economic Zone. He recommended the administration of the zone to follow the example of the industrial park Tracom and to set up a consortium of resident companies.

The administrator of the Balti Free Economic Zone Marin Ciobanu said that talks are being carried out with another five international companies that want to open factories in the zone. The new residents plan investments of up to €8 million in the first half of this year alone. There will be created about 400 jobs.