Global tobacco group Philip Morris International announced that it will invest another USD 130 million in its Romanian state-of-the-art non-smoke products plant, where it already invested USD 600 million since 2017.

The USD 130 million will be invested by the end of 2024. It will increase its production capacity and contribute even more to the growth of Romania's exports, the company said.

"We are confident that the additional investment of more than USD 130 million will accelerate the transition to a smoke-free Romania," said Jacek Olczak, CEO of Philip Morris International, according to Economica.net.

Begun in 2017, the USD 600 million investment in PMI's Otopeni factory has transformed it into a high-class production facility for tobacco heating products.

USD 500 million was invested in developing production capacities, training employees and implementing solutions aimed at sustainability. Another USD 100 million was invested in 2022-2023, leading to the development of IQOS consumables production capabilities for domestic and foreign markets.

92% of the production of the PMI factory in Otopeni is exported to 54 markets on five continents.

iulian@romania-insider.com

(Photo source: the company)