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BRIEF-Arcelik unit received final approval on the incentive application for the new plant in Romania
December 13, 2016 / 7:42 AM / a year ago

BRIEF-Arcelik unit received final approval on the incentive application for the new plant in Romania

Dec 13 (Reuters) - Arcelik AS :

* The final approval for the incentive application, which unit Arctic had made for the establishment of a new factory to produce 2 million units / year capacity washing machines in Romania, reached Arctic

* The state aid of up to RON 162.5 million (up to about EUR 36.1 million on the current exchange rate) has been allocated to the project

* The first phase of the total investment of RON 471 million (about EUR 104.5 million with the current exchange rate) will be completed at the end of Q1 of 2018

* The investment project will be fully completed in September 2019 as stated in announcement dated August 3, 2016

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