Policolor-Orgachim, the Romanian-Bulgarian paint and varnish maker, will invest EUR 2 mln this year and another EUR 5 mln within two years, according to the company's CEO, Irina Măndoiu. The production capacity will thus increase by 30%.

In the first stage of the investment project, new premises will be developed to expand the factory's surface to 4,500 square metres from 3,500 currently. Part of the equipment for the new premises will be purchased this year.

The paint factory is located on Timisoara boulevard in western Bucharest. The expansion was commissioned to Masterbuild company, selected after an auction. The expansion project should be ready by the middle of this year.

"We have land available for future expansions, there are still old buildings that need to be demolished, and there is enough space for development. The whole land has an area has ​​25,000 square meters," Măndoiu told Ziarul Financiar.

andrei@romania-insider.com

(Photo source: Facebook/Policolor Romania)