Investment Plan for Europe: 68 million to white goods producer Arctic in Romania

July 16, 2018

Hat: Investment Plan for Europe: 68 million to white goods producer Arctic in Romania

Funding Scheme: 2018-07-16

Pgm2014 2020: Yes

Amorce:

Under the European Strategic Investment Fund (EFSI), a 68 million euro loan was granted by the European Investment Bank (EIB) to a white goods producer (Artic) in Romania to build a washing machine production plant.

Text:

The Investment Plan for Europe (the Juncker Plan) is one of the EU’s key actions to boost investment in Europe, thereby creating jobs and fostering growth. 

After completion in 2019, the new factory will produce some 2.2 million washing machines a year. This will allow Arctic – currently the market leader in the Romanian white goods market with more than 40% market share – to meet increasing demand in the European market. Arctic is part of the Arçelik Group – the third largest producer of white goods in Europe and the seventh largest in the world.

The project is highly innovative, enabling the implementation of the latest automation processes and the integration of Internet of Things applications, including intelligent machines, inter connected devices and cooperative robotics technologies. Thanks to Arctic’s investment, the region will become an innovation centre with the potential to attract further investments.

Url description: Press room - European Commission

Url: https://ec.europa.eu/commission/news/investment-plan-europe-eib-supports-construction-arctic-white-goods-factory-romania-2018-jul-13_en