Italy’s AVF Beltrame plans to invest €300mn ($354mn) to set up a greensteel rebar and wire rod factory in Romania. The mill will have an annual production capacity of about 600,000mt.
The company has not established a commissioning date as yet but noted that the mill would have low carbon emissions, be equipped with the latest technology and be supported by a 100MW solar park. Several sites are under consideration along with regulations and funding options. The investment would create 250 steel mill jobs and over 1,000 indirect jobs according to media reports.
Romania has a domestic rebar consumption of about 1.4-1.5mn mt in the construction sector annually and domestic consumption will grow given the government’s investments in infrastructure projects.
COST Tragoviste, now the only domestic rebar producer in Romania, is under court proceedings to evaluate its insolvency options but may be forced into bankruptcy.
Beltrame owns and manages the hot-rolled steel bars and specials steel plant in Donalam, Romania at present.