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Finnish group Nokian Tires has started work on the car tire factory it plans to build in Oradea, western Romania, BalkaEngineer.com has learned from Romania-insider.com. The investment is estimated at 650 million euros.
Nokian Tires intends to establish in Oradea, Bihor County, a new production unit for the production of car tires in winter, summer and all-season versions. The new production facility will have a planned capacity of 6 million units per year and will feature state-of-the-art technology that will enable a high level of automation and precision to minimize defects and waste.
The Romanian government is ready to provide a grant of up to 100 million euros for the project, but only after authorization from the European Commission. The aid is granted outside existing state aid schemes, and EU Member States granting it must demonstrate that the project contributes to a coherent regional development strategy and that, given its nature and size, it will not distort competition.
Photo source: canva.com