The Balti-based joint stock company “Raut” was conferred the title of industrial park, IPN reports, quoting a Government decision. The park will have the same name and will be administered by the joint stock company.

The industrial park will occupy an area of 9.5 hectares. The plot is owned by the authorities of Balti municipality and was leased out to SA “Raut”. Industrial production activities, mainly in electronics, equipment and car making, and IT, will be carried out there.

A sum of €25 million will be invested in the project. Of them, €18 million will represent the investments of the future residents.

“The strategic location of the industrial park, the existence of technical and production infrastructure, the access to local and foreign markets, and the availability of skilled labor force represent the strong points of this park,” said Deputy Prime Minister and Minister of Economy Valeriu Lazar.

It is expected that about 1,300 new jobs will be created within this project. The budget revenues are projected to increase by about 3.2 million lei annually.