Romania to revive Otelu Rosu steel plant with €300 million investment
Views : 93
Update time : 2024-05-30 16:32:36
Romania plans to restart the Otelu Rosu steel plant, which has been inactive since 2013. The plant, equipped with a 100-ton electric arc furnace last modernized in 2011, was recently purchased by businessman Dorinel Umbrarescu for EUR12 million. Umbrarescu's construction company, UMB Group, intends to invest over EUR300 million to restart the plant and produce metal structures for its construction activities.
Otelu Rosu specializes in various types of billets and has a production capacity of 850,000 tons of steel per year. Romania's only other operating blast furnace mill, Liberty Galati, has a capacity of 3.2 million tons of steel annually. Additionally, Turkey's Ussuri Capital plans to build a new low-carbon emission steel plant in Romania.
