Home Tangible Assets Chinese group Sany reportedly considers heavy machinery factory in central Romania
Tangible Assets

Chinese group Sany reportedly considers heavy machinery factory in central Romania

Share


Chinese industrial group Sany is considering opening a heavy machinery factory in Ghimbav, Brașov County, where it plans initially to assemble cranes, excavators, and other construction equipment, local publication Bună Ziua Brașov reported.

According to the report, Sany representatives met Ghimbav mayor Ionel Fliundra on July 22 to discuss the conditions for the investment and the support the local administration could provide.

The company is reportedly seeking to acquire an existing 20,000-square-metre industrial hall, allowing production to begin by the end of 2026.

Mayor Fliundra told the company that the local administration would provide all support permitted under Romanian law. He also highlighted that Ghimbav has among the country’s lowest property tax rates, a policy aimed at attracting investment.

The mayor added that the area where the planned factory would be located is included in an infrastructure modernisation programme, which envisages the rehabilitation of Sânzienelor Street and the extension of water and sewage networks.

The reported manufacturing project follows earlier plans by Sany to expand its presence in Romania’s renewable energy sector.

Chinese media reported in April that the group, through its Singapore subsidiary, was preparing an investment programme worth more than EUR 1 billionn in Romania.

The project includes the development of two photovoltaic parks with a combined installed capacity of around 1.6GW in Uivar, Timiș County, a 2.34GWh battery energy storage system and a data centre with capacity of up to 70MW near Timișoara.

If confirmed, the Ghimbav facility would mark Sany’s first manufacturing investment in Romania and would complement the group’s planned renewable energy projects in the country.

iulian@romania-insider.com

(Photo source: Pingan Yang/Dreamstime.com)



Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Sumitomo Whs stock trades steady as logistics earnings stabilize

Sumitomo Whs stock represents exposure to a Japanese logistics and warehousing group...

Cameroon to take a census of government assets, starting in Douala

The Cameroonian government announced the upcoming census of state assets across the...

What Are Identifiable Assets? Definition, Examples & Uses

Key Takeaways Identifiable assets are measured by fair value and provide future...

Best & Worst Property Tax Codes in the U.S.

Today’s map shows states’ rankings on the property tax component of the 2020...