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Philip Morris International (PMI), a global leader in the tobacco industry, announced that it will invest an additional $130 million in its plant in the Romanian city of Otopeni. BalkanEngineer.com has learned this from Capital.bg. With this investment, the total capital that the American company has invested in its Romanian production center will exceed 700 million dollars.
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The plant in Otopeni is engaged in the production of smokeless cigarettes under the Heets brand, which is part of the company's iQOS electronic system. Since 2017, PMI has been focusing entirely on this type of product with the aim of reducing the use of traditional cigarettes and replacing them in safer alternatives. The investment will be used to establish new production lines at the facility, and is due to be completed by the end of 2024.
More than 90% of the plant's production is exported, which is an additional benefit for Romania and the country's budget.
The factory in Otopeni is essential to PMI's strategy to create a smoke-free future, as it is one of seven factories worldwide that produce consumables for IQOS. Only three of them are located in the European Union - in Romania, Greece and Italy respectively.
Photo source: canva.com