Local entrepreneur Vladimir Cohn, known for his businesses developed in the paper manufacturing industry in the past, applied for state aid worth RON 185.4 mln (EUR 37 mln), which would be used for an investment of almost RON 1.4 bln lei (EUR 285 mln) in a new production unit.

"We want to build a new pulp and paper factory in Giurgiu," Cohn told Ziarul Financiar.

According to the ranking of the projects filed by investors for financing under the state grant scheme 807/2014, published on August 9 by the Ministry of Finance, this is the largest investment that would be backed by state aid in this session.

In 2018, Vladimir Cohn sold the paper companies EcoPack Ghimbav and EcoPaper Zărneşti to the British group DS Smith, in a transaction that amounted to approximately EUR 208 mln.

At the time of the sale, the two companies had reached a consolidated business of EUR 50 mln, being the leaders of their business segments.

(Photo: Moreno Soppelsa | Dreamstime.com)

andrei@romania-insider.com