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In the FEZ "Balti" will be built two new factories, the total investment for the implementation of these two new investment projects will amount to $ 75 million

In the FEZ "Balti" will be built two new factories, the total investment for the implementation of these two new investment projects will amount to $ 75 million

This was reported by the press service of the FEZ "Balti", noting that the premiere of two new investment projects in the Free Economic Zone "Balti" totaling over 75 million took place on Thursday, November 4, during the visit of the Prime Minister of Moldova Natalia Gavrilita to Balti. In particular, within the framework of new investment projects, will be built two new plants. Thus, the company “GG Cables and Wires EE” Limited Liability Company will build its third enterprise and, thus, will increase the volume of investments in the FEZ “Balti” by another $ 14 million. As specified in the FEZ "Balti", in particular, the new investment "GG Cables and Wires EE" Limited Liability Company involves the construction of the third plant "GG Cables and Wires EE" LLC, thanks to which 500 new jobs will be created. The company currently employs over 700 people, with the opening of the new plant, the number of jobs will increase to 1,300. And the total investment of this company alone will increase almost up to $ 72 million. The company "GG Cables and Wires EE" LLC was registered in Moldova in 2012, being part of the Austrian group Gebauer & Griller, located in Vienna. The company currently owns two production plants located in the FEZ “Balti”. The main activity of “GG Cables and Wires EE” LLC in Moldova is similar to that of the parent company in Austria and is focused on the production of insulated wires and cables. Gebauer & Griller has the latest technology for the production of copper or aluminum wires using fully automated equipment. The administrator of the FEZ “Balti” Marin Ciobanu noted that since its foundation in March 2010, the Free Enterprise Zone “Balti” has been experiencing a dynamic growth in the total volume of investments. “We strive to effectively and competently manage the zone by improving the necessary conditions for creating new business spaces and maintaining good conditions for the functioning and development of residents. The first resident of the zone was the Dräxlmaier Group, which has been present in Moldova since 2007. It is one of the most important residents providing not only production, but also initiating a dual education program in our country. Dräxlmaier Group has become the largest regional employer in Balti and Cahul. To date, the company has invested more than $ 120 million in Moldova and created over 6,000 jobs. We are also constantly working to attract new investors from a wide variety of areas. So, for example, according to the results of a competitive selection, at the end of October 2021, Moda Design LLC became a resident of the zone. It plans to provide design services in areas such as clothing, footwear, interior and exterior furniture, etc. The foreign partners will initially be from Romania and Italy, ”said Marin Ciobanu. The free enterprise zone “Balti” was established in March 2010. Over 11 years of activity, 78 residents have been registered in the zone, the total investment of which exceeds $ 222 million. During this time, 11,600 jobs have been created with an average salary of 8600 lei. The volume of industrial production is currently 6.9 billion lei per year, the total sales volume is 7.1 billion lei per year. FEZ "Balti" includes 19 sub-zones, three in Balti, the rest - throughout the country. // 04.11.2021 — InfoMarket

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