Italian group IVECO will invest EUR 50 million in a new assembly plant for military trucks in Romania, which will create 200 jobs in the first phase, Romania’s prime minister Ludovic Orban said on Tuesday, August 25.

The factory will be located in Petresti commune, Dambovita county.

“This investment is made within the offset related to the contract for equipping the Romanian Army with vehicles produced by Iveco Defense,” said PM Orban, adding that Romania plans to invest some “90 billion” in the Army endowment program in the next ten years, Digi24 reported.

“This endowment program must bring investments in offset policies that increase production capacities in Romania, that ensure technological transfer, that develop new capabilities for innovation, research and development. The endowment program must generate a relaunch of the defense production in Romania, both through local companies and through partner companies," Orban added.

In February this year, Romania’s Defense Ministry signed a contract worth EUR 200 million with Italian group Iveco for the purchase of 942 military trucks that will be delivered in the next four years. Some 80% of the trucks will be produced in Romania.

editor@romania-insider.com

(Photo source: Gov.ro)