Local company GreenFiber International, part of the recycling group Green Group, will invest EUR 35 million in the third plant for recycled synthetic fiber in Romania.

The factory is located in Urziceni, 59 kilometers away from Bucharest, on the former industrial platform of ROFEP, a local producer of brushes for electric engines, reports local Profit.ro.

The plant will have an annual production capacity of 30,000 tons of synthetic fiber per year. Following this investment, the company will become the largest European producer on this segment.

GreenFiber International will kick off production in the new plant in the first quarter of next year.

The company is also considering a new investment to double the capacity of the plant by 2018.It expects to have over 1,000 employees in Romania, when the Urziceni project is completed.

GreenFiber currently has two fiber factories in Buzau and Iasi. The company uses recycled PET to produce Polyester Staple Fiber. In 2015, GreenFiber had a turnover of EUR 69 million and a net profit of EUR 5.9 million.

editor@romania-insider.com

(photo source: Greenfiber.ro)